Today ( Sept. 28th), the market for grains in China is shown as follows:

    Corn: Prices at home maintain stable amid some declines. Corn buying prices in Shandong deep processors mostly stay at 1,720-1,870 yuan/tonne, most further down 10-30 yuan/tonne from yesterday; corn prices in Henan deep processors settle at 1,720-1,814 yuan/tonne, some further down 20-30 from yesterdat. Main purchasing prices offered at Jinzhou port, Liaoning settle at 1,770-1,800 yuan/tonne for drying corn of year 2017 with volume weight 700g/L; 1,830 yuan/tonne for corn (volume weight 720g/L); 1,770-1,800 yuan/tonne for old corn (volume weight 700g/L); 1,460 yuan/tonne for new corn of year 2018 (30% moisture) and 1,800-1,820 yuan/tonne for some corn (15% moisture). While new corn prices at Bayuquan port are pegged at 1,800 yuan/tonne; 1,740-1,750 yuan/tonne for old corn. Second-class corn prices at Shekou port, Guangdong settle at 1,920-1,940 yuan/tonne, unchanged from yesterday. Albeit new corn in North China will be largely harvested and sweep into market in October, corn demand in downstream is not as satisfactory as expected, particularly, deep processors are to take a hand-to-mouth buying strategy. Add insult to injury, the 22nd case of ASF detected today in Gongzhuling, Jilin forces Chinese pig farmers to make small replenishment of breeding herds and shrink feed consumption. As a result, noticeable oversupply and slashed feed consumption put down corn prices. However, new corn in Northeastern China just shows up in small amount, and it has already witnessed a high open due to a production cut forecast, in the meantime, old corn price still keeps firm on grounds that auctions of temporary reserved corn have cost support at the bottom. By the way, market players had better take a eye on weather in corn belt, new corn marketing and deals upon temporary reserved corn auctions. 

    Sorghum: Prices for imported sorghum at ports keep firm (US sorghum: Nantong offers 2,080-2,100 yuan/tonne; Guangdong 2020-2,030 for raw sorghum and 2,250 for dried sorghum. Australian sorghum: Tianjin offers 2,290 for raw sorghum and 2,400 for dried sorghum. Domestic sorghum: Changchun in Jilin 2,360; Daqing in Heilongjiang offer 2,400; Chifeng in Inner Mongolia 1,900-1,940 yuan/tonne for new and raw sorghum, and 2,240 yuan/tonne for sorghum upon loading; Hinggan League 2,100 yuan/tonne for raw sorghum, 2,200-2,240 yuan/tonne for dried sorghum). 

    Barley: Prices at ports also keep stable amid some declines (Australian barley: Shandong offers 2,040 yuan/tonne; Nantong 2,000-2,020, down 10; Zhangjiagang 2,000-2,010. French barley: Nantong 1,950; Guangdong 1,840-1,850. Canadian barley: Nantong 1,960. Ukrainian barley: Guangdong 1,830-1,840). Sprawling ASF dampens replenishment of breeding pigs and threatens farmers to undersell more pigs, as a result, feed consumption is seen cut and grain delivery at ports also goes slack. In addition, languishing corn prices drag down its alternative feed ingredient barley and sorghum when corn still grasps the price advantage, about 100 yuan/tonne less than sorghum at present. Exactly, with new grain supplying and slightly languishing corn prices in North China, grains like sorghum and barley today edge down in price. Yet amid China's escalation of trade conflicts with the US, Chinese buyers show no interest in US sorghum purchases as the import costs are surprisingly high, the same case going to Australian sorghum costs due to dry spell recently. In this way, sorghum July imports reach the nadir in year 2018, which leads to strong willingness for higher offers among importers in case of unavailable low costs for grain sources. Shorter term, there is limited downward potentials for grain prices, therefore market attention should also paid to new corn and sorghum marketing.