SunSirs: China Corn Prices slightly Decreased Last Week (September 11-15)

According to the Commodity Market Analysis System of SunSirs, the domestic corn price slightly decreased last week. The average price of yellow corn in the third class at the beginning of the week was 2,834.29 RMB/ton, and the average price over the weekend was 2,825.71 RMB/ton, with a slight decrease of 0.30% during the week.

In mid September, spring corn from North China and other regions has been listed one after another, with new season corn entering the market sporadically. The willingness of grain storage and trade entities to leave the market has increased, and the wait-and-see attitude of downstream deep processed corn has increased. In addition, with continuous price increases and restocking in the early stage, corn inventory has been effectively replenished, and corn purchase prices have been gradually lowered, driving the domestic corn market prices to rise and fall slightly last week.

Last week, domestic eggs were operating at a relatively high level, with an increase of 0.75% during the week. Pig prices remained stable and weak, with a decrease of 0.72% during the week. The market in the aquaculture industry was slightly volatile. Overall, the industry is still in a profit range, and farmers' enthusiasm for supplementing livestock remains strong. In the future, demand for corn feed is expected to stop falling and rebound.

SunSirs corn product analyst believes that spring corn has entered the market sporadically, with increasing wait-and-see attitudes from trading entities and cautious downstream procurement. In the short term, there will be some room for price decline in the domestic corn market. Overall, the supply of spring corn is limited, and it will still take some time for corn to be listed in the Northeast production area. Downstream demand remains unchanged, and there is limited room for further price decline in the domestic corn market.

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