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SunSirs: Corn Prices Fell Slightly

September 12 2019 11:03:17     SunSirs (Eva)

1.Price Trend

According to the monitoring of SunSirs, domestic corn prices fell slightly this week, with the average price of third-grade yellow corn at the beginning of the week being RMB 1874.29/ton, and the average price at the end of the week being RMB 1870.00/ton, a slight drop of 0.23%.

2.Cause analysis

This week (9.2-9.6), the auction turnover of the National Reserve fell to a new low, falling to 6.74% as a whole. State-stored stale grain continued to be released from warehouses, new season maize came into the market one after another, domestic stale maize steadily transited, the willingness of the main body of grain trade to leave warehouses increased, downstream enterprises had a strong wait-and-see attitude, and the market price of Maize in Northeast China continued to adjust slightly weakly with stale grain out-of-warehouse price. Under the impact of new grain, some deep processing enterprises continued to reduce the purchase price slightly, which led to a slight weak adjustment of corn prices in North China this week.

This week (9.2-9.6), domestic pig market prices slowed down, egg prices remained high, and the breeding industry still at a high level will play a supporting role in the recovery of domestic demand for corn feeding. The overall recovery of feeding demand is limited due to the weak adjustment of domestic pig stocks.

3.Future Market Forecast

Analyst of corn products from SunSirs, believes that the domestic corn market will continue to operate steadily, moderately and weakly in the short term because of the stable transition of the past, prudent market purchasing and selling, and relatively loose supply in the domestic corn market.

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