SunSirs: China Domestic Corn Prices Remain Stable with a Moderate to Strong Trend

According to the Commodity Market Analysis System of SunSirs, domestic corn prices remained stable with a slightly strong trend last week. The average price of third grade yellow corn at the beginning of the week was 2,262.86 RMB/ton, and the average price over the weekend was 2,265.71 RMB/ton, with a slight increase of 0.13%.

As the end of the year approaches, downstream enterprises have shown a stronger willingness to stock up, and have raised corn purchase prices one after another. At the same time, grain trading entities in pre holiday production areas continue to release and monetize their stocks, resulting in a slight increase in supply in the domestic corn market. Supported by strong supply and demand, the domestic corn market prices continue to operate steadily with a moderate to strong trend.

Last week, domestic egg prices rebounded significantly, with a 4.20% increase during the week. Pig prices fluctuated and moved forward, with a 0.76% increase during the week. The breeding industry continued to recover, and the demand for corn feed in the future will remain stable.

The corn product analyst of SunSirs believes that in the short term, with the support of demand, the domestic corn market prices will continue to operate steadily with a strong trend. As downstream deep processing enterprises complete stocking, coupled with the continuous outflow of grassroots grain sources at the end of the year, the continuous recovery of corn market supply will to some extent suppress the upward trend of corn prices, and the overall trend will gradually stop rising and stabilize.

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