Corn Rotation and Imports Lowered Down Price Increase Pace

By CnAgri2013-07-25 10:50:27 Print Corn：On July 24th, 2013, the average wholesale price of feed corn in main production areas is RMB2,444Yuan/MT, up 0.37% compared with last week. Since July, some inferior grains were auctioned in Jilin Soil Reserves, temporary storage in NE began inter-provincial destocking and state reserves in some northern areas started the round out of stocking corns and most of them made small profit. Besides, some trade-type grain depots also plan round out grains in late July. But in general, corn demand was weak with poor profit in deep processing industry and poor demand in feed industry. With impacts of start of rotation and imported corns, we project that space for price increase of ordinary corn is limited and in some areas the price is likely to go down slightly. But in general, corn price shall keep increasing slowly. (Table 1)

 

From “China Livestock and Feed Market Weekly Report”