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Corn Balance Sheet Update in Oct. 2013

China Agriculture Report By CnAgri2013-12-04 09:19:27China Agriculture Report Print

According to the National Bureau of Statistics, feed production by medium and large mills registered 18.769 million MT in Oct. and 169 million MT in Jan. ~ Oct., down 6.99% and 4.66% respectively on the year-on-year basis.

7.898 million MT corn was consumed by medium and large compound feed mills and 12.931 million MT by mills of various scales in Oct. Compound feed mills’ capacity utilization was 53.12% in Oct.

Other feed ingredient supply included 9.886 million MT oilseed meal, 2.333 million MT wheat middling and bran, 1.626 million MT rice husk and broken rice, 1.55 million MT corn bran and protein powder, 50,000 MT beer dregs and 2.48 million MT low-quality wheat, paddy, flour and rice.

Corn consumption for various uses was 18.817 million MT in Oct. corn inventory was 198 million MT at the end of Oct., suggesting a monthly stock/consumption index of 10.52.

Corn inventory in Oct. consisted of 25.434 million MT state reserve, 6.839 million MT corn-processing factories’ stock, 8.687 million MT feed mills’ stock, 1.502 million MT traders’ stock and 1.55 million MT on-farm stock.

Corn price was RMB2,401/MT in Oct., down 0.58% on the year-on-year basis.

Planted corn acreage and corn production are 36.42 million hectares and 213.7 million MT in 2013, up 3.97% and 3.95% respectively on the year-on-year basis. Due to wide price gap between home and abroad, corn imports are predicted to be 3 million MT this crop year. Corn consumption is predicted to be 204 million MT this year. Both year-end inventory and safety index are predicted to go up.

From “China Grains Market Weekly Report


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