SunSirs: China Domestic Corn Prices Have Remained Stable with a Moderate to Strong Trend after the Spring Festival

According to the Commodity Market Analysis System of SunSirs, the overall 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 2,274.29 RMB/ton, and the average price over the weekend was 2,285.71 RMB/ton, with a slight increase of 0.50%.

During the Spring Festival, the purchase and sales of corn in the domestic market have basically stagnated. After the Spring Festival, as downstream production enterprises resumed work one after another, the supply and demand of the domestic corn market gradually recovered. Due to the low inventory of some enterprises and the gradual reduction of grassroots grain sources, enterprises slightly increased the purchase price of corn to stimulate the arrival of corn, driving the stable and strong operation of the domestic corn market price after the holiday.

After the holiday, domestic egg prices have significantly decreased, with a drop of 13.29% during the week. Pig prices continue to be weak, with a drop of 5.94% during the week. The situation of losses in the breeding industry continues to increase, which will further suppress the enthusiasm of farmers to replenish their pens. The demand for corn feed in the future will also decrease.

The corn product analyst of SunSirs believes that the high-quality grain sources at the grassroots level are gradually decreasing, and the demand for deep processing is not decreasing. In the short term, the domestic corn market price will continue to operate steadily with a moderate to strong trend.

SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.