Grain auction from July 16th to July 20th in China

By CnAgri2012-07-31 13:04:40 Print

In grain auction from July 16th to July 20th, the state put a total of 3.0059 million MT grains into the market, with turnover quantity of 11,000 MT and total turnover rate of 0.37%.

Of which on 19th Jul, 500 MT paddy was put in, with turnover quantity of 300 MT and turnover rate of 55.7% at average price of RMB1990Yuan/MT.

On 18th July, 3.0053million MT for-flour-wheat was put for auction with turnover quantity of 10,700MT and turnover rate of 0.59% at average transaction price of RMB2119Yuan/MT.

By details: For Henan market, 2.6381million MT was put in with turnover quantity of 10,700MT and turnover rate of 0.41%. For Anhui market, 0.3673million MT was no transaction was made. In current, new wheat purchasing price was low, so state reserved wheat auction was with no advantages, resulting in low turnover rate.

Besides, 0.2786million MT soybean of 2008 of national temporary reserve, including soybeans from NE and soybeans delivered from production areas, with turnover rate of 100% at average price of RMB4293/MT. Total sales of national temporary reserved soybean till now was 1.4239million MT. Rise of auction transaction price became a main factor of edible oil quotation increase.

There was no transaction regarding corn.

From "China Grains Market Weekly Report"