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SunSirs: High Corn Price in China in October
November 02 2022 11:39:00SunSirs(Selena)

According to the monitoring of SunSirs, the domestic corn price moved forward with a high shock in October. The average price of the third grade yellow corn on October 1 was 2,795.71 RMB/ ton, and the average price on October 31 was 2,801.43 RMB/ ton, with a slight increase of 0.20% in the month.

During the National Day, the rainfall in many places delayed the listing process of corn in domestic production areas as a whole. The moisture content of corn in the new season was high, and a small number of corn entered the market. Trade subjects had a strong wait-and-see attitude, and it still took time for new grain to be listed in batches. The overall supply of the domestic corn market was tight. Driven by the high purchase prices of some enterprises in the early stage of new grain listing, the domestic corn market prices were high. With the weather getting better, the number of corn on the market rose gradually, The purchase price of corn was slightly lowered in some regions, and the overall domestic corn market price was high and weak after the holiday.

In the late ten days of October, farmers were generally reluctant to sell at a high price. The market trade was still dominated by stale grain. The breeding market was good enough to support the continuous recovery of downstream feed demand. In addition, the price of imported corn continued to rise. With the support of downstream demand, a small amount of new season corn was listed with limited production pressure. The domestic corn market price was again strong, and the overall domestic corn market price was high and moving forward.

In October, the domestic egg price continued to rise, with a sharp rise of 13.27% in the month. In October, the domestic pig market price rose and fell back, with a rise of 10.32% in the month. In a word, the breeding market continued to be high, and the overall profit margin was considerable. The enthusiasm of farmers to supplement stocks was high, and there was still some room for the recovery of corn feed demand. The continuous recovery of feed demand will further support the future corn market price.

SunSirs analyst believes that: in November, the new grain in the production area will enter the market in an all-round way, and the overall yield of corn in the new quarter is expected to be sufficient. The supply of corn in the future market will gradually recover, which will to some extent suppress the future price of corn. At the same time, supported by the continuous rising price of imported corn, the constant popularity of breeding market, the low inventory of downstream deep processing enterprises, and the high planting cost of farmers, farmers are reluctant to sell, The overall falling space of domestic corn market price in the future is limited. It is expected that the overall China domestic corn market price will continue to fluctuate slightly near 2,800 RMB/ ton in November.

 

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