SunSirs: China Domestic Corn Prices Rose and Fell in September

According to the Commodity Market Analysis System of SunSirs, domestic corn prices rose and fell in April. On September 1st, the average price of third class yellow corn was 2,832.86 RMB/ton. On September 28th, the average price was 2,788.57 RMB/ton, a decrease of 1.56% during the month.

In early September, the new season of corn is about to enter the market, and downstream deep processing enterprises' procurement has slowed down. Supported by the decreasing availability of high-quality grain sources in the domestic corn market, the overall price of corn in the market has stabilized at a high level.

In mid September, spring corn from North China and other regions gradually went on the market, with new season corn entering the market sporadically. The willingness of grain storage and trading entities to liquidate their stocks has increased. Supported by early price increases and grain grabbing, downstream deep processing enterprises have relatively sufficient corn inventory and a strong wait-and-see attitude towards procurement. The overall supply of domestic corn market has slightly rebounded, and manufacturers have continued to lower corn purchase prices, driving domestic corn market prices to rise and fall slightly. At the end of September, some corn production areas in Northeast China were listed, and the overall high yield expectation of autumn grain was relatively sufficient. Trade entities continued to be bearish on the future market, and the overall price of domestic corn market was high and low, while the price of domestic corn market continued to be weak and downward.

The corn product analyst at SunSirs, believes that the expected high yield of the new season corn is relatively sufficient, and the grain trading entities continue to issue and monetize. During the National Day holiday, corn from the Northeast production area will gradually enter the market, and the domestic corn market supply will continue to increase. The overall seamless connection between new and old corn is relatively sufficient, and downstream corn inventory is relatively sufficient. With a strong wait-and-see attitude towards demand, and many bearish pressures, it is expected that the domestic corn market prices will continue to operate steadily, moderately, and weakly in October.

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