Corn Balance Sheet of April

By CnAgri2013-05-21 11:13:04 Print China’s feed production is estimated to be 17.514 million MT in April, including 15.713 million MT compound feed, 1.3 million MT condensed feed and 50,000 MT premixed feed. Feed production totaled 68.39 million MT in January ~ April, an increase of 10.26% on the year-on-year basis.
 
9.742 million MT corn was consumed by medium and large feed mills and 10.104 million MT by mills of various scales in April.
 
Compound feed mills’ capacity utilization was 65.62% in April.
 
Other feed ingredient supply included 6.471 million MT oilseed meal, 2.132 million MT bran and wheat middling, 1.421 million MT rice husk, 1.518 million MT corn bran and protein powder and 65,000 MT beer dregs.
 
Corn consumption for various uses was estimated to be 16.079 million MT in April. Corn inventory was about 126 million MT at the end of April, suggesting a stock/consumption ratio of 7.85.
 
Corn inventory in April consisted of 39.861 million MT state reserve, 18.75 million MT corn-processing mills’ stock, 11.69 million MT feed mills’ stock, 9 million MT traders’ stock and 46.94 million MT on-farm stock.
 
COFCO imported 3.68 million MT corn from the USA in January ~ April.
 
Corn price was RMB2,394/MT in April, down 0.51% on the year-on-year basis. Corn price averaged RMB2,414/MT between August of 2012 and April of 2013. A bumper corn harvest at homo last fall and large quantities of imports this year have created a pressure on corn price.





From “China Grains Market Weekly Report”