September Corn Prices in the Production and Consumption Areas Were Less than Last Month

In September, corn buying and selling were still sluggish. The auction of temporarily-stored corn continued, and the trading rate was descending. However, new-season corn was about to be available on the market, grain-consuming companies were cautions about purchasing and the traders were more willing to sell, so corn market prices were a bit less than last month. Corn prices in the production and consumption areas averaged at RMB 1,970/MT, down 0.7% or RMB 13/MT from last month.  
 
Along with less new-season corn availability on the market of northeast and the continuing of temporarily-stored corn, corn market prices almost stabilized. The average price of corn in September in the northeast was RMB 1,859/MT, down 0.2% or RMB 4/MT from last month.    
 
In north China and Huang-Huai Region, along with the increasing of supply resulting from new-season corn availability on the market in large quantities, further processing companies adjusted down corn purchase prices, driving down market prices. In September, the decline in corn prices in north China and Huang-Huai Region was most obvious. The average price of corn in north China and Huang-Huai Region was RMB 2,057/MT in September, down 1.5% or RMB 31/MT from last month.  
 
In the consumption areas of south, the supply and demand of corn was sluggish, however, because the traders fell into loss, they were less willing to reduce the prices. The average price of corn in the consumption areas in September was RMB 2,059/MT, RMB 1/MT higher than last month.    
 
In September, new-season corn would be increasingly available on the market and the expectation on a shortage of corn would change, so corn prices in October possibly would go down.