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SunSirs: Chinese Corn Prices Fluctuate at High Levels (June.1-5)

June 08 2020 08:48:26     SunSirs (Linda)

1. Chinese corn price chart

According to SunSirs monitoring, the overall domestic corn price fluctuated slightly last week. The average price of third-grade yellow corn at the beginning of the week was 1,988.57 yuan/ton, and the average price at the weekend was 1,991.43 yuan/ton, a slight increase of 0.14%.

2. Market analysis

The State Reserve auction transaction continued to maintain a high volume and price situation, and the average transaction price rose slightly from the rise. Under the support of demand, the trading enthusiasm of trade subjects continued to rise. Under the support of policies and demand, the overall price of the domestic corn market continued to be relatively high. Run with shock.

During that week, live pig prices stopped falling and rebounded by 3.08%. Egg prices fluctuated at the bottom. After the sharp decline in live pig prices, the profit margin of farming declined sharply. In addition, the Chinese pig stock is still at a low level. Feeding demand in the farming industry continues to be weak. Chinese corn price support is limited.

On June 4, 2020, the Grain Trading Coordination Center of the State Grain and Material Reserve Bureau and the national grain trading centers of various provinces (autonomous regions and municipalities) in the network organized the National Temporary Reserve Maize Bidding Fair and planned to list and trade the State Reserve in 2014 and 2015. Maize in Heilongjiang, Jilin, Liaoning, and Inner Mongolia was 3,978,882 tons, with 3,974,739 tons and 99.89% of transactions. The highest price was 1,960 yuan/ton, the lowest price was 1,600 yuan/ton, and the average transaction price was 1,795 yuan/ton.

3. Future market forecast

SunSirs corn product analysts believe last week, the state reserve corn auction premium has declined, and as the state reserve corn is released from the market to supplement the market supply, the state reserve auction price will gradually become rational, and the market price of corn will continue to rise insufficient.

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