SunSirs: China Corn Prices Fluctuated slightly Last Week (November 13-17)
November 22 2023 09:51:39 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic corn price fluctuated slightly last week, with an average price of 2,644.29 RMB/ton for the third class yellow corn at the beginning of the week and 2,642.86 RMB/ton for the weekend, a decrease of 0.05%.
In mid November, the market volume of corn in the production area continued to increase, and the domestic corn market supply continued to rebound. The high yield of new season corn has become a foregone conclusion. Downstream trade entities have a strong wait-and-see attitude, and the demand for feed in the breeding industry continues to be sluggish. In addition, imported corn continues to arrive in Hong Kong, and the domestic corn market supply is relatively loose. The overall pressure on corn market prices is fluctuating and weak.
Last week, domestic egg prices bottomed out and slightly rebounded. Last week, the price of live pigs fluctuated strongly, with an increase of 0.48%. The overall low level and slight upward trend of the breeding industry market. Overall, the pig breeding industry is still in a loss situation, and the enthusiasm of farmers to supplement their livestock is still low. The overall recovery space for corn feed demand in the future is limited.
According to corn product analysts from SunSirs, the domestic corn market supply continues to rebound, and overall downstream demand is relatively weak. Under strong supply and weak demand pressure, the domestic corn market prices will continue to operate under pressure in the short term.
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