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SunSirs: Weak Adjustment of China's Corn Prices Last Week (12.14-12.18)
December 21 2020 08:33:00SunSirs(Linda)

1. Corn price trends in China

According to the monitoring of SunSirs, domestic corn prices continued to be slightly weakened last week. The average price of third-grade yellow corn at the beginning of the week was 2474.29 yuan/ton, and the average price at weekend was 2468.57 yuan/ton, a slight decrease of 0.23%.

2. Market Analysis

Entering mid-December, policy corn directional auctions were launched, policy corn was once again out of the warehouse to supplement market supply, while imported corn and substitutes arrived in Hong Kong one after another, the main body of grain storage trade had weakened the attitude of price support, and the end of the year, farmers in the producing areas were willing to sell grain There was a slight increase, and the supply of corn in the grassroots corn market increased slightly. The tight supply in the domestic corn market eased somewhat. This week, some companies in the production area slightly lowered their purchase prices, which led to a slight weak adjustment in domestic corn prices.

Last week, domestic live pigs continued to rebound, rising by 1.21% during the week, and the price of eggs continued to rise, rising by 5.58% during the week. The overall profit margin of the aquaculture industry was still relatively high. According to the Ministry of Agriculture and Rural Affairs, as of the end of November, Both the breeding sow stock and the total live pig stock have recovered to more than 90% of the normal level, and it is expected that by the first half of 2021, the pig production capacity is expected to fully return to the normal level. The domestic corn feed demand will continue to be in demand in the future, which will affect the price of corn certainly support.

3. Outlook

SunSirs corn product analyst Xu believes that the policy guarantees supply and stable prices, the willingness of grain trade entities to export warehouses has increased, the tight supply situation in the domestic corn market has eased, and the overall corn price has been slightly weakened. There is limited room for corn market prices to continue to fall.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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