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SunSirs: Corn Price Shocks Forward (9.16-9.20)

September 24 2019 14:10:16     SunSirs (Eva)

1.Price Trend

According to the monitoring of SunSirs, the price of domestic maize moved forward slightly. The average price of the third-grade yellow maize was RMB 1862.86/ton at the beginning of the week, and the average price at the weekend was RMB 1862.86/ton, with a rise or fall of 0.

2.Cause analysis

In mid-September, the auction of State Reserve is still running normally. After a small amount of new season maize is listed, the enthusiasm of domestic trade entities to participate in bidding has decreased significantly, and the overall purchase and sale is cautious. The turnover rate in September is still below 10%. This week, new-season Maize in North China was fully listed, Maize in Northeast China was listed one after another, stale grain was released from warehouse one after another, domestic supply of new and stale maize was seamlessly linked up, and the supply of maize market increased slightly. The increase in arrivals prompted some deep processing enterprises to reduce the purchase price of maize slightly, which led to a slight decline in maize prices in some areas. At the same time, the national reserve policy forms a certain support for the domestic corn price, multi-empty game, this week, the domestic corn market price overall small fluctuations forward.

Domestic pig market prices continued to rise, egg prices fluctuated slightly, breeding industry continued to rise, coupled with policies to promote the recovery of pig production, will increase the demand for corn feed in the future market to a certain extent.

3.Future Market Forecast

Analyst of corn products in SunSirs, believes that: State-stored stale grain keeps going out of warehouse, new grain enters the market one after another, trade entities are cautious in purchasing and selling, manufacturers cut down their purchasing prices and play a multi-empty game. It is expected that the domestic corn market prices will continue to fluctuate slightly around the policy exit price in the short term.

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