Grain auction in China

By CnAgri2012-08-17 14:08:18 Print

In grain auction from Aug 6 to Aug 10, the state put a total of 3.0019 million MT grains into the market, with turnover quantity of 30,300 MT and total turnover rate of 1.01%.

Of which on Aug 9, 2500 MT paddy was put in with turnover quantity of 900 MT and total turnover rate of 100%, at turnover price of RMB1950/MT.

On Aug 8, 3.001million MT for-flour-wheat was put for auction with turnover quantity of 29,500 MT and turnover rate of 0.98% at average transaction price of RMB2031Yuan/MT.

For Henan market, 2.6377million MT was put in with turnover quantity of 29000MT and turnover rate of 1.10%. For Anhui market, 0.36133million MT was put in with turnover quantity of 0.04MT and turnover rate of 0.12%. New wheat purchase price is currently at low level, national reserve auction does not have much advantage, which leads to low market transaction rate.

There was no transaction regarding corn or soybean last week.

From "China Grains Market Weekly Report"