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SunSirs: Corn Price Rebounded Slightly (10.14-10.18)

October 22 2019 15:20:57     SunSirs (Eva)

1.Price Trend

According to the monitoring of SunSirs, the domestic corn price picked up slightly this week. The average price of yellow corn at the beginning of the week was RMB 1838.57 yuan/ton, and the average price at the weekend was RMB 1847.14 yuan/ton, up 0.47% slightly.

2.Cause analysis

At the last auction of the annual State Reserve corn auction held this week, the turnover was 3.13%, and the overall transaction rate continued to be low. The average transaction price was RMB 1706 yuan/ton, and the overall situation was relatively stable. The policy grain was delivered successively, the quantity of corn listed in the new season increased gradually, the corn market supply in the production area was relatively loose, and the supply pressure in the corn market increased slightly, resulting in the corn market price in the production area continued to be weak. That's ok. After the National Day holiday, deep processing enterprises in North China and other places have raised prices to replenish the stock, driving the corn market price in North China to operate in a small and strong way, and the corn purchase price in the northern port followed a small increase, driving the domestic corn market price to rise in a small way.

This week, the price of domestic pig market continued to rise sharply, the price of eggs continued to fluctuate at a high level, and the market of breeding industry continued to rise, which led to a substantial increase in the enthusiasm of farmers to make up the market. The amount of pig stocks in the future market is expected to stop falling and stabilize, and the demand for corn in the future market is expected to pick up.

3.Future Market Forecast

Analyst of corn products of SunSirs believes that: in the short term, with the support of enterprise price increase and stock replenishment, the price of domestic corn market has slightly recovered. On the whole, corn in Northeast production area has not been listed intensively, the demand for feed is still weak, and the demand for corn starch Market is not strong in peak season. With the increase of corn market volume, the supply pressure of corn market will gradually increase, and the corn market will again The second shift is to the situation of strong supply and weak demand, at which time, corn prices will again be under pressure and weak adjustment.

If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.

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