Corn: Today domestic corn price mostly remains stable, only some rising slightly. The procurement price in Shandong further processing companies prevails at 1,770-1,920 yuan/tonne, unchanged from yesterday. In Jinzhou port, Liaoning, the prevailing purchasing prices for 2017 dried corn are 1,770-1,800 yuan/tonne (volume weight 700) and 1,830 yuan/tonne (volume weight over 720), both unchanged from yesterday, and 1,770 for old corns, unchanged from yesterday, and 1460 yuan/tonne for 2018 new corn with 30% moisture, up 40 from yesterday, and 1,800-1,820 for those with 15% moisture. In Bayuquan port, Liaoning, 2018 new corn is priced at 1,800 yuan/tonne, and old corn at 1,760-1,770 yuan/tonne, both holding the line of yesterday, and 1,750 yuan/tonne for volume weight of 690. In Shekou port, Guangdong, price for second-class old corn is 1,910-1,930 yuan/tonne, holding the line of yesterday. In the past two days, corn market has been subject to rainfalls in North China and Huang Huai area, and most corn prices in Shandong stop falling and stay stable recently. Currently, new corn is yet to show up with large amounts, so temporary reserved corn is still in predominant presence, pushing auctions to go better and better. With the cost support at the bottom, plus rigid demand for high-quality corn from market, old corn price still keeps firm. However, overall corn price is predicted to edge down in fluctuation for the following two factors. Firstly, new corn will gradually go into market once weather turns fine. Under the increasing seasonal supply pressure, coupled by ongoing auctions of temporary reserved corn, corn supply will get looser and looser. Secondly, market is in balance of supply and demand as downstream companies are wary of purchasing and feed consumption is restricted by the contagious ASF. Later focus shall be put on the weather in main planting area, new corn marketing and deals clinched on temporary reserved corn auctions. 

 

    Sorghum: Prices for imported sorghum at ports keep firm amid some declines (US sorghum: Tianjin offers 2,200-2,210 yuan/tonne for raw sorghum, and 2,200 yuan/tonne for dried sorghum; Nantong 2,080-2,090 yuan/tonne; Shanghai 2,120-2,130 yuan/tonne; Guangdong 2,030-2,050 yuan/tonne. Australian sorghum: Tianjin offers 2,310 yuan/tonne for raw sorghum and 2,420 yuan/tonne for dried sorghum; Shanghai 2,400 yuan/tonne. Domestic sorghum: Changchun 2,400 yuan/tonne; Qiqihar 2,400 yuan/tonne; Hinggan League 2,200 yuan/tonne for raw sorghum, and 2,400 yuan/tonne for dried sorghum; Chifeng 2100 for new sorghum). 

    Barley: Prices at ports also keep stable amid some declines (Australian barley: Shandong offers 2,060-2,070 yuan/tonne; Nantong 2,020-2,030; Guangzhou 1,920 yuan/tonne. French barley: Guangdong1,840-1,850 yuan/tonne, down 10. Ukrainian barley: 1,830-1,840 yuan/tonne, down 10). As new corn increasingly supplies to North China amid auctioned corn inflow, sufficiently ample new corn and old corn on the market dampen market sentiments and push down its prices these days. Accordingly, grains at port also bear the pressure and to be honest, grain prices at ports today already come down, for one thing, languishing corn prices curb the performance of its alternatives like sorghum and barley, for another, devastating ASF forces pig raisers to take a underselling strategy, in this way, demand in feed makers is also seen slack. However, sorghum July imports reach the nadir in year 2018, and sorghum and barley imports will be inevitably low later. That leads to strong willingness for higher offers among importers in case of unavailable low costs for grain sources. On this note, shorter term sorghum and barley will mainly move sideways in a steady and narrow pace.