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SunSirs: China's Corn Starch Prices were Weakly Adjusted Last Week (8.31-9.4)
September 07 2020 10:27:35SunSirs(Linda)

1. Corn starch price trend

According to SunSirs monitoring, domestic corn starch prices were slightly weaker and adjusted last week. At the beginning of the week, the average price of first-grade corn starch was 2813.33 yuan/ton, and the average weekend price was 2806.67 yuan/ton, a slight decrease of 0.24%.

2. Market analysis

Entering September, the State Reserve’s auction transaction heat gradually faded. On September 3, the State Reserve’s auction transaction rate fell to 33.59%. The market trade entities had a strong wait-and-see attitude. The overall corn price continued to stabilize and weakly adjusted, and the cost of raw materials continued to fall. This week Starch prices then fell slightly.

On September 3, 2020, the National Grain and Material Reserve Bureau Grain Trade Coordination Center and the networked provinces (autonomous regions, municipalities) of the National Grain Exchange Center organized the National Temporary Storage Corn Bidding Fair, and plans to be listed on the National Reserve in 2016 and 2018 in the National Reserve Heilongjiang , Jilin, Liaoning, and Inner Mongolia, three provinces and a district of 4015459 tons of corn, 1,348809 tons of transactions, 33.59% of the transaction, the highest price of 2190 yuan / ton, the lowest price of 1889 yuan / ton, the average transaction price of 2072 yuan / ton.

3. Outlook

SunSirs corn starch product analysts believe that the rapid rise of early starch prices to ultra-high prices makes downstream unacceptable, raw material costs continue to fall, and starch prices continue to weaken adjustments. It is expected that the domestic corn starch market prices will still have room for downward adjustment in the short term.

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