SunSirs: Trading Is Light, China Domestic Corn Prices Have Fluctuated Slightly

According to the Commodity Market Analysis System of SunSirs, the domestic corn price fluctuated slightly last week, with the average price fluctuating around 2,240 RMB/ton.

In mid December, downstream deep processing enterprises had relatively sufficient corn inventory, and their willingness to build warehouses weakened. The overall trading volume of the domestic corn market turned light. At the same time, due to the sufficient supply of high-quality grain sources that can be circulated in production areas, the overall purchase and sale of the market was cautious, mostly for immediate use. The price of corn in the domestic market fluctuated slightly.

Last week, domestic pig prices rebounded slightly from a low level, egg prices continued to fluctuate at a low level, and the continuous losses in the breeding industry led to a sustained low demand for corn feed in the terminal breeding industry. In addition, the continued low demand for deep processing in the terminal industry has put pressure on the purchasing of deep processing enterprises, resulting in overall weak downstream demand for corn.

The corn product analyst of SunSirs believes that the peak of corn production in Northeast China has not yet arrived, downstream demand remains sluggish, and market trading is light. It is expected that the domestic corn market price recovery momentum will be insufficient in the short term, and the overall trend will be slightly fluctuating at the current level.

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