Price trend

According to the monitoring of SunSirs, the price of domestic corn in February fluctuated and declined as a whole. The average price of third-class yellow corn on February 1 was 2,834.29 RMB/ton, and the average price on February 28 was 2,808.57 RMB/ton, down 0.91% in the month.

Analysis review

After the Spring Festival holiday, the market volume of corn in Northeast China continued to rise. At the same time, a large number of imported corn continued to arrive at the port. The domestic corn market supply became increasingly loose. The wait-and-see attitude of the downstream trading entities continued to increase. The port and deep processing enterprises continued to reduce the purchase price of corn. After entering February, the overall domestic corn market price continued to operate under pressure.

Affected by the continuous decline of corn prices in the production areas, the main body of grain storage trade had a poor willingness to ship, and the arrival of corn in the northern ports had continued to decline. In order to stimulate the arrival of corn, the purchase price of corn in the port area had increased slightly in mid-February, and the downstream deep-processing enterprises had raised prices to replenish the stock, and the overall price of domestic corn market had stopped falling and recovered slightly.

With the comprehensive recovery of corn trade in the production area, the market volume of corn had recovered again. After the corn stock of the port and downstream deep processing enterprises had been replenished to some extent, the purchase price of corn had been continuously reduced. In February, the overall price of domestic corn market fluctuated to be weaker.

In February, the domestic pig price hit the bottom and rebounded, rising by 9.48% in the month, and the egg price rose by 2.95% in the month. The aquaculture market had improved, and the domestic corn feed demand will also improve in March.

Market outlook

According to the corn product analyst of SunSirs, under the pressure of many bad news, it is difficult to ease the loose domestic corn market supply in the short term, and there is still some room for the domestic corn market price to fall in March.

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