SunSirs: The Corn Price Was Weaker (February 20-24)
February 28 2023 09:56:40 SunSirs (John)
Price trend
According to the monitoring of SunSirs, the domestic corn price was weaker this week. At the beginning of the week, the average price of third-class yellow corn was 2,815.71 RMB/ton, and the average price at the weekend was 2,810.00 RMB/ton, down 0.20%.
Analysis review
In the late of February, the corn trade in the production area resumed in an all-round way. With the continuous recovery of the market volume of corn in the production area and the continuous arrival of imported corn at the port, the domestic corn market supply was relatively loose as a whole. After the corn inventory of the deep processing enterprises was supplemented to a certain extent, the purchase price of corn was slightly reduced, driving the domestic corn market price to continue to operate stably and to be weaker.
Domestic egg prices were stronger this week, rising by 1.60% in the week, and pig prices continued to rise, rising by 4.32% in the week. The aquaculture market rebounded slightly, and the fall in corn feed demand in the future will stabilize as a whole.
Market outlook
According to the corn product analysts of SunSirs, there is still room for the price of domestic corn market to fall under the pressure of strong market supply and weak demand in the short term.
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