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SunSirs: Corn Price Fell Slightly (10.7-10.11)

October 15 2019 11:29:31     SunSirs (Eva)

1.Price Trend

According to the monitoring of SunSirs, domestic maize prices were slightly weaker this week. The average price of the third grade yellow maize in the early weeks of the week was RMB 1851.43 yuan/ton, and the average price of the weekend was RMB 1842.86 yuan/ton, a slight drop of 0.46%.

2.Cause analysis

After the National Day, the auction continued to operate normally. Affected by the increasing market volume of corn in the production areas, the trade subjects in the production and marketing areas had a strong wait-and-see attitude. In recent years, the turnover rate of the national reserve auction continued to decline. This week, the overall turnover rate of the national reserve auction fell to 2.24%. This year's national reserve auction will end on October 18. Without policy support, domestic corn market prices will be mainly affected by supply and demand. Old grain will be released from warehouse one after another, new grain market will continue to increase, domestic corn market supply will remain loose for some time, and domestic corn market prices will continue to decline under pressure as a whole.

Domestic pig prices continued to rise sharply, egg prices fell slightly, the breeding industry continued to rise, coupled with the introduction of policies to encourage pig reproduction around the country, the high meat prices led to a significant increase in the enthusiasm of farmers to fill fences, the future stock of live pigs is expected to stop falling and stabilize, feeding demand is expected to rebound.

3.Future Market Forecast

Corn product analyst at SunSirs believes that: with the continuous release of stale grain, the market volume of corn in the new season is increasing, the bullish attitude of trade entities is strong, the problem of oversupply of domestic corn market has intensified, and the price of domestic corn market is expected to still have some room to fall.

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