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SunSirs: Corn Price Shocks Ahead This Week (November 11-15)

November 18 2019 15:09:05     SunSirs (Eva)

1.Price Trend

According to the monitoring of SunSirs, the domestic corn price moved forward slightly this week. The average price of yellow corn at the beginning of the week was RMB 1854.29 yuan / ton, and the average price at the weekend was RMB 1855.71 yuan / ton, up 0.08% slightly.

2.Cause analysis

In November, the amount of corn on the market in Northeast China increased gradually, and the supply of corn market became more relaxed. Under the pressure of supply, the price of corn market in Northeast China fluctuated slightly. The port is supported by the corn price in the production area and moves forward steadily as a whole. Affected by the arrival of new grain in succession in North China, the deep processing manufacturers have a strong wait-and-see attitude, mostly with the purchase and use, and the price of corn is relatively stable.

This week, the price of domestic pig and egg market as a whole soared and then fell sharply, and the market of breeding industry fire has cooled down. Generally speaking, the price of pigs and eggs is still at a high level. In addition, the state vigorously supports the resumption of pig production. The domestic pig stock will gradually rise in the future, which will support the demand for feed corn.

Data: as of November 5, the main production areas purchased 25.82 million tons of middle and late rice, corn and soybean, a year-on-year decrease of 8.38 million tons. 14 major production areas, including Hubei and Anhui, have purchased 13.85 million tons of medium and late indica rice, a year-on-year decrease of 1.1 million tons. Heilongjiang and other seven major production areas have purchased 4.73 million tons of Japonica rice, a year-on-year decrease of 1.23 million tons. 11 major production areas, including Heilongjiang and Shandong, have acquired 6.47 million tons of corn, a year-on-year decrease of 6.32 million tons. Heilongjiang and other seven major production areas have purchased 770000 tons of soybeans, an increase of 270000 tons year on year. 770000 tons of soybeans were purchased, an increase of 270000 tons on a year-on-year basis.

3.Market Forecast

SunSirs analyst of corn products believes that: the overall grain sales progress in the production area is slow, the peak of new grain discussion is not reached, the overall supply of corn market is loose, the downstream enterprises have a strong wait-and-see attitude, and many negative air is suppressed, and the domestic corn market price in the future will be under pressure again.

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