SunSirs: China Corn Prices Fluctuated slightly and Moved forwardLast Week (March 11-15)
March 19 2024 16:40:12 SunSirs (Selena)
According to the commodity market analysis system of SunSirs, the domestic corn price slightly stabilized last week. At the beginning of the week, the average price of yellow corn in the third class was 2,352.86 RMB/ton, and the average price over the weekend was 2,350.00 RMB/ton, a slight decrease of 0.12%.
In mid March, as the temperature gradually rose, the listing process of lying grain in the production area accelerated, and the willingness of grain traders in the production area to leave the warehouse continued to increase. The domestic corn market supply continued to rebound. Last week, after some deep processing enterprises effectively replenished their corn inventory, they slightly lowered the purchase price of corn, and the overall price of domestic corn market fluctuated weakly.
Last week, domestic egg prices rebounded slightly, with a 2.95% increase within the week. The price of live pigs fluctuated strongly, with a 0.55% increase within the week. Overall, although the domestic pig to grain ratio has slightly rebounded to above 6:1, the overall breeding industry market is still operating at a low level. Farmers are cautious in replenishing their stocks, and downstream feed enterprises are unlikely to see any improvement in their demand for corn stocking in the short term.
SunSirs corn product analyst believes that as temperatures rise and production areas are about to enter the spring sowing season, farmers' willingness to sell grain has significantly increased. The domestic corn market supply continues to rise, and the breeding industry market remains low. Downstream corn procurement is relatively cautious, and the domestic corn market prices will once again be under pressure and operate weakly.
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