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SunSirs: Corn prices continued to rise last week (July. 6-10)

July 13 2020 09:35:43     SunSirs (Linda)

1. Corn price trends in China

According to SunSirs monitoring, domestic corn prices continued to rise last week. The average price of third-grade yellow corn at the beginning of the week was 2,072.86 yuan/ton, and the average price at the weekend was 2,085.71 yuan/ton, a slight increase of 0.62%.

2. Market analysis

Last week, the State Reserve auction was still hot, and the transaction premium was second only to the fourth State Reserve auction. The main participants in the trade were enthusiastic about the auction. Under the policy support, the domestic corn market price continued to rise steadily.
The price of domestic pigs rose by 3.56% last week, the price of eggs rebounded by 6.24% at the bottom, the aquaculture industry continued to rise, the domestic pig stock continued to rise, and the demand for corn feed for the future market will gradually rise, and the price of domestic corn will easily rise and fall.

On July 9, 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, planning to list and trade the State Reserve in 2015. The corn in Jilin, Liaoning and Inner Mongolia was 3,970,072 tons, with a turnover of 3,970,072 tons and a turnover of 100.00%. The highest price was 2,130 yuan/ton, the lowest price was 1,750 yuan/ton, and the average transaction price was 1,899 yuan/ton.

3. Outlook forecast

SunSirs corn product analysts believe that the domestic corn market price will continue to follow the state reserve auction price as a whole, with strong support from short-term policies and downstream demand.

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