SunSirs: High Consolidation of Corn Prices in China Last Week (September 4-8)
September 11 2023 14:02:43 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, last week, domestic corn prices stabilized at a high level, with an average price of 2,832.86 RMB/ton for the third class yellow corn at the beginning of the week and 2,835.71 RMB/ton for the weekend, with a slight increase of 0.10% during the week.
Since September, the new season corn has not yet entered the market, and downstream deep processing enterprises have slowed down their procurement. Supported by the reduction of high-quality grain sources available for circulation in the domestic corn market, the overall price of the domestic corn market has stabilized at a high level.
Last week, domestic egg prices continued to rise at a high level, rising by 3.39% during the week. Pig prices fluctuated weakly and fell by 0.18% during the week. Overall, the profits of laying hens continue to increase, and although the pig to grain ratio has decreased, pig farming is still in the profit range as a whole. Farmers' enthusiasm for supplementing livestock remains strong, and the overall demand for corn feed remains strong.
SunSirs corn product analysts believe that in the short term, with downstream demand support, the domestic corn market prices will continue to consolidate at high levels.
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