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Along with Structure of Temporarily-Stored Corn Stocks Improving, Availability on the Market in July Mainly Would Be Cor

China Agriculture Report By CnAgri2017-07-03 11:21:31China Agriculture Report Print

Since the starting of temporarily-stored corn auction in May 2017, corn turnover has accumulatively reached 24.15 million MT, and there are 212 million MT of remaining stocks. Besides, corn auctioned most is produced in 2013 and before, and extremely less corn produced in 2014 is available on the market.

By taking the lead in auctioning corn produced in 2013 and before, the structure of temporarily-stored corn stocks has been improved greatly. At present, there are less 8 million MT of corn produced in 2013 and before, accounting for less 4%; corn produced in 2014 and 2015 is 78.78 million MT and 125 million MT respectively, taking up 37% and 59%.

After the auction of corn produced in 2013 was greeted with less enthusiasm, auction in July mainly would be corn produced in 2014.

Table 1, Production of Temporarily-Stored Corn by Year
Unit: million tons

Year of Production Surplus Before Auction Turnover Stock Balance
2013 and before 31.02 23.29 7.73
2014 79.65 0.87 78.78
2015 125.43 0 125.43
Total 236.10 24.15 211.95

Source: National Grain Trade Center.

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