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November Corn Prices in the Production and Consumption Areas Witnessed Different Growths and Growths, and the Overall Prices Ascended Slightly

By CnAgri 2019-12-10 13:43:57 Print Tel:861064402118-822 Email: chen.wang@boabc.com

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Owing to relatively high temperature at the beginning of new-season corn availability on the market in the northeast, the process of corn ability was delayed, resulting in an increase in prices in north China and Huang-Huai Region and southern consumption areas. Corn prices in the production and consumption areas averaged at RMB 1,934/MT, up 0.8% or RMB 15/MT from last month.  
In early and middle November, the temperature in the northeast was always low, and the number of corn availability on the market of northeast (especially Heilongjiang) was only 10-20%, lower than that in the same period of previous years. A weak supply on the market also resulted that the listing prices of corn further processing companies maintained at a high level. The average price of corn in November in the northeast was RMB 1,766/MT, down 0.5% or RMB 9/MT from last month.
Due to a delay of corn availability on the market in the northeast, corn in north China and Huang-Huai Region, corn in north China and Huang-Huai Region was sold well, increasing farmers’ unwillingness to sell. Besides, in Henan, thanks to relatively good weather, the quality of corn is better than that of previous years, which is good for pig feed and further improves the prices. The average price of corn in north China and Huang-Huai Region was RMB 1,984/MT in November, up 0.8% or RMB 16/MT from last month.  
In the production areas, owing to an increase in corn prices and in freight, corn costs arrival at the consumption areas of south ascended; besides, along with the improving demand for corn, feed and farming companies increased the purchase volume of corn. In the consumption areas, corn prices rebounded slightly to RMB 2,048/MT, up 0.6% or RMB 13/MT from last month.
Along with the cooling of temperature, new-season corn in December would increase obviously, and at that time, corn prices in the northeast possibly would go down, pushing down the overall prices of corn in the production and consumption areas. 
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