Corn Market to be Bearish with Harvest

By CnAgri2013-10-17 11:14:03 Print

Corn：On Oct. 16th, 2013, the average wholesale price of feed corn in main production areas is RMB2,377Yuan/MT, down 1.06% compared with last week. Domestic corn harvest is basically certain this year, so in the long run, corn market will be bearish. But in the early transition stage, quality corn supply will continued to be tight, supporting the price. Quotations from deep processing enterprises in NE is also low and the time when temporary reserve is started has great influences on corn price in NE market. With consideration of current warehousing condition, the government will commission some enterprises to take part in temporary reserve purchasing. (Table 2)

 

From “China Livestock and Feed Market Weekly Report”