According to the Commodity Market Analysis System of SunSirs, domestic corn prices continued to decline weakly last week. At the beginning of the week, the average price of yellow corn in the third class was 2,480.00 RMB/ton, and the average price over the weekend was 2,440.00 RMB/ton, a decrease of 1.61% during the week.

As the impact of low temperature, rain, and snow weather gradually weakens, the market volume of corn in production areas continues to increase. After completing the acquisition task, manufacturers continue to lower the purchase price of corn. In addition, the continued weak corn price has led to the outflow and realization of grain trading entities. Under the suppression of many negative factors, the domestic corn market price continues to be weak and downward.

Last week, domestic egg prices were weak, falling 0.58% within the week, while pig prices remained weak, falling 1.69% within the week. The domestic breeding industry continued to operate at a bottom, and the pig breeding industry continued to be in a loss making situation. The enthusiasm of farmers to supplement their pens was poor, which will to some extent suppress the rebound in demand for corn feed in the future market.

SunSirs corn product analyst believes that the loose supply situation in the domestic corn market is difficult to alleviate in the short term, and downstream demand continues to be weak. The domestic corn market prices will continue to operate weakly under pressure.

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