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Sunsirs: Corn Prices in China were Weak Last Week (3.8-3.12)
March 15 2021 08:51:03SunSirs(Linda)

1. Corn price

The average price of grade 3 yellow corn was 2901.43 yuan / ton at the beginning of the week and 2890.00 yuan / ton at the end of the week, with a slight drop of 0.39%.

2. Market analysis

In March, the temperature in the production area gradually picked up, the willingness of farmers to sell grain increased, the main body of grain storage trade was reluctant to sell and the attitude of price support was relaxed, the supply of corn market increased slightly, the arrival of downstream deep processing enterprises increased, and some manufacturers slightly reduced the purchase price of corn, which drove the domestic corn market price up and down slightly. Corn prices declined slightly, grain storage trade main body cash out intention increased, the domestic corn market price overall pressure weak adjustment.

Last week, China's pig prices fell again, down 1.65% in the week. Last week, domestic egg prices were relatively low and moved forward. The breeding industry market continued to decline, farmers' enthusiasm for supplementary hurdles declined, and the recovery speed of corn feed demand in the future will gradually stabilize.

3. Future forecast

Sunsirs corn product analysts believe that the main body of grain storage trade has increased cash intention, corn market supply has rebounded slightly, and the breeding industry market continues to decline, corn feed demand in the future will be more cautious, and the purchasing feet of downstream enterprises will slow down. Under the influence of many factors, it is expected that corn prices will still have some room to fall in the short term.

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