Thanks to Obvious Price Advantage of Temporarily-stored Corn, the Trading Rate Reached up to 89%

By CnAgri2018-04-17 15:44:44 Print On April 12^th and 13^th, northeast planed to auction 6.68 million MT of corn. The actual trading volume was 6.42 million MT at an average trading price of RMB 1,450/MT, and the trading rate reached up to 89%.
 
Trading prices of corn auctioned were RMB 150-200/MT less than current market prices, which is more attractive to further processing companies. Owing to relatively poor quality of grain with a long storage time, the number processed into feed is relatively limited; however, further processing companies can mix long-stored grain with new-season grain, which can make the costs decrease by RMB 150/MT, so further processing companies are actively participating in auction.
 
On April 19^th and 20^th, 7 million MT of temporarily-stored corn still would be auctioned. Current stocks of temporarily-stored corn still is upward of 150 million MT. If 7 million MT of corn is auctioned every week, it will bring certain pressure on market.