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SunSirs: China's Corn Prices Remained Firm Last Week (2.1-2.5)

February 08 2021 08:38:51     SunSirs (Linda)

1. China's corn price trend

According to the monitoring of SunSirs, China's corn price remained high overall last week. The average price of third-grade yellow corn at the beginning of the week was 2,842.86 yuan/ton, and the average price at weekend was 2,852.86 yuan/ton, a slight increase of 0.35%.

2. Market Analysis

Entering February, when the Spring Festival holiday is approaching, the purchase and sales of the corn market in the producing areas have gradually weakened, and the overall corn market price has remained stable. The deep processing enterprises will continue to increase their stock prices before the end of the year. Under the support, the domestic corn market price continued to run at a high level and strong on the whole.

Last week, domestic live pig prices continued to fall, with a sharp drop of 5.07% during the week, and the price of eggs fell sharply, with a sharp drop of 10.44% during the week. After the end of the New Year’s purchase, the problem of strong supply and demand in the live pig and egg markets became prominent, and prices fell under pressure. . On the whole, the domestic live pig price is still at a relatively high level, and the stock of live pigs has recovered well. The corn feed demand in the future will continue to maintain a relatively high level, which will support the corn price in the future.

3. Outlook

SunSirs corn product analysts believe that under the support of demand, the domestic corn market price remained high at the end of the year. On the whole, the tight supply situation in the domestic market is difficult to alleviate in the short term. Market trade entities are still optimistic about the corn market price in the future. Corn market prices will continue to run at a high level.

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