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August Corn Further Processing Companies Continued to Maintain High Profits

China Agriculture Report By CnAgri2018-09-12 16:53:35China Agriculture Report Print In August, main corn further processing companies such as corn starch and alcohol continued to maintain high profits of last month. By late August, corn starch and alcohol processing margins had approached to RMB 170/MT and RMB 450/MT respectively, highest this year. The main reasons are as follows:
(1) In August, further processing companies generally stop production for an overhaul. Corn processing companies still maintained a relatively low operating rate and  further processed products were in a tight supply. 
(2)The quotations of corn further products maintained at a high level. Along with a strong demand, a limited supply and the bettering of exports resulting from the depreciation of RMB, corn starch quotations maintained at a high level. Besides, boosted by the growth in soybean meal prices, the prices of byproducts such as DDGS and protein all ascended. 
(3) Corn costs continued to stabilize. Along with the coming of new availability on the market and the warehousing out of temporarily-stored corn, corn market prices always stabilized.

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