Today ( Sept. 29th), 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 10-20 yuan/tonne from yesterday. 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 1,805 yuan/tonne for some corn (15% moisture), down 10 from yesterday. Second-class corn prices at Shekou port, Guangdong settle at 1,920-1,940 yuan/tonne, unchanged from yesterday. Generally, new corn in North China and Northeast is to be harvested and be into market in October from the south to north, whilst auctions of temporary reserved corn go on-- another 8 Mln tonnes of corn is to supply the market on October 11th and 12th. Such being the case, corn market bears more pressure from oversupply in the season, yet corn demand in downstream is not as satisfactory as expected, particularly, deep processors are to take a hand-to-mouth buying strategy. Add insult into injury, contagious ASF 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 prices have resistance to fall 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; Shanghai 2,110-2,130; 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; Qingdao 2,320 yuan/tonne for raw sorghum, and 2,420 yuan/tonne 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; Zhangjiagang 2,000-2,010, Guangdong 1,910-1,930. French barley: Nantong 1,950; Guangdong 1,840-1,850. Canadian barley: Nantong 1,960. Ukrainian barley: Guangdong 1,840). Devastating ASF dampens farmers in replenishment of breeding pigs, as a result, feed consumption is seen shrunken. 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. That reveals sluggish turnover of grains at ports. Yet amid haunting trade conflicts and dry spell in Australia, Chinese buyers under a double whammy show no interest in US and Australian sorghum purchases as the import costs are surprisingly high. In this way, sorghum stockpiles at ports 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. Grains today at ports run stable in price, and shorter term, are expected to move downward but in a stable pace.