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SunSirs: Corn Prices in the Chinese Market Fluctuated downward in July, down 1.85%

August 03 2021 08:38:01     SunSirs (Linda)

1. Corn price trends in the Chinese market

The average price of third-grade yellow corn on July 1 was 2777.14 yuan/ton, and the average price on July 31 was 2275.71 yuan/ton, down 1.85% during the month.

2. Market analysis

Entering July, the State Reserve's imported corn auctions started, and a large number of substitutes have gradually arrived in Hong Kong. New wheat’s listed grain trade entities have turned their attention to the increase in willingness to cash out of the wheat trade. The price of pigs has plummeted, and the purchase of corn by feed companies has slowed down. After the inventory was replenished, the purchase price continued to be lowered. Under the suppression of many negatives, the domestic corn price continued to fluctuate downward.

Domestic egg prices rose sharply in July, rising by 14.69% during the month. Egg prices rose sharply. Although live pig prices remained weak as a whole, on the whole, domestic pig stocks recovered well, and corn feed demand will continue to remain high in the future. Level, will play a certain support to the corn market price in the future.

3. Market forecast

Under the pressure of many negatives, domestic corn prices continued to fluctuate and decline in July. On the whole, the domestic corn market has less and less circulated high-quality grain sources, and the corn market is about to enter the stage of discontinuity, which will provide certain support to corn prices in the future. The corn market price as a whole will move forward with a slight shock after the decline has slowed down.

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