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SunSirs: China's Corn Prices Continued to Weaken Last Week (3.15-3.19)
March 22 2021 08:54:05SunSirs(Linda)

1. Corn price trend

Last week, domestic corn prices continued to be weak. The average price of third-grade yellow corn at the beginning of the week was 2882.86 yuan/ton, and the average price at weekend was 2861.43 yuan/ton, a slight decrease of 0.74%.

2. Market Analysis

Entering mid-March, the national deep processing manufacturers have successively lowered the corn purchase price, the willingness of the trading entities in the production and sales area to go out of the warehouse has increased significantly, the tight supply of the corn market has been effectively alleviated, and the overall price of the domestic corn market has been under pressure and adjusted weakly.

Last week, domestic live pig prices continued to be weak, with a decrease of 0.61% during the week. This week, domestic egg prices fluctuated downward and fell by 1.31% during the week. The breeding industry continued to decline, the overall feed cost remained high, the piglet price continued to rise, and the profit margin for breeding continued to shrink. , The demand for aquaculture and feed will continue to rise and there is limited room for it.

3. Market outlook forecast

Farmers are selling grain to prepare for farming, and the intention of the main body of grain trade to realize increases. Deep processing companies have lowered their purchase prices after the increase in the quantity of goods. Imported corn has increased significantly year-on-year. In the short term, the tight supply of corn in the market will be effectively eased. There is still room for a fall.

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