Along with an Abundant Supply and a Limited Growth in Demand, August Corn Prices Would Stabilize

By CnAgri2018-09-12 16:44:51 Print July corn market prices almost stabilized. In August of previous years, along with a tight supply and a strong demand, corn prices always show the increasing trend. However, it was predicted the situation this year would be different.
 
Judging from the supply, influenced by the continuing of temporarily-stored corn auction, the overall supply in the market was sufficient. By August 3^rd, temporarily-stored corn trading volume had accumulated 59.97 million MT. According the two-month time limit of warehouse-out, lots of stocks should be available on the market now. And meanwhile, 8 million MT of corn would be available on the market every week of August; besides, early-manuring spring corn in some areas had been available on the market, so the situation of temporary shortage in previous years won’t appear this year.
 
Viewed from the demand, owing to relatively low hog and poultry stocks, the demand for feed was limited; some further processing companies still stop production for an overhaul now, so the operating rate also maintained at a relatively low level.
 
So, it was predicted corn would be in a loose supply in August, and corn prices still would fluctuate and won’t witness an obviously seasonal growth.