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SunSirs: China Corn Prices continued to be Weak Last Week (August 15-19)


According to the monitoring of SunSirs, the domestic corn price continued to be weak last week. The average price of yellow corn at the beginning of the week was 2,767.14 RMB/ ton, and the average price at the weekend was 2,660.00 RMB/ ton, down 0.26%.

In the middle of August, early spring corn in southern production areas successively entered the market, and the intention of domestic grain storage trade entities to cash out of the warehouse continued to increase. The domestic corn market supply rebounded slightly. At the same time, after the corn inventory of downstream deep processing enterprises was replenished, the purchase price of corn was slightly reduced, and the domestic corn market price as a whole continued to operate under pressure.

Last week, the domestic egg price rose slightly, with an increase of 1.33% in the week. Last week, the domestic pig market price moved forward with an overall shock, with an increase of 0.85% in the week. The breeding industry as a whole was at a relatively high level and moved forward with a small fluctuation. The corn price continued to be weak. The profit space of the domestic breeding industry was still observable. The enthusiasm of farmers to supplement the market was strengthened as a whole, and the demand for corn feed in the future would pick up.

According to SunSirs corn product analysts, the corn in early spring has successively entered the market, the main body of grain storage trade has cashed out of the warehouse, the downstream enterprises are cautious in purchasing, and the supply of imported substitutes is sufficient. The domestic corn market as a whole is light. In addition, the new season corn in the main production area will soon enter the market in September, and traders have a strong wait-and-see attitude. It is expected that in the short term, China domestic corn market price will be under pressure in a stable and weak operation.