Today ( Oct. 25th), the market for grains in China is shown as follows:

　　Corn: Today domestic corn prices mostly remain stable and some step up slightly, but at a noticeably slower pace. The procurement price in Shandong further processing companies prevails at 1,900-2,010 yuan/tonne, mostly keeping stable and some gaining another 10-20 yuan/tonne from yesterday. At Jinzhou port, Liaoning, the price remained unchanged at 1,790 yuan/tonne for 2017 dried corn (volume weight 700 g/L), and 2018 new corn is also unchanged at 1,480 yuan/tonne for 30% moisture and 1,830-1,840 yuan/tonne for 15% moisture (volume weight over 700 g/L). At Bayuquan port, Liaoning, 2018 new corn is quoted steadily at 1,790-1,820 yuan/tonne, and old corn is stable at 1,740-1,760 yuan/tonne. At Shekou port, Guangdong, second-class old corn is quoted steadily at 1,930-1,960 yuan/tonne.

　　The bullish sentiment for later corn market within this year is still strong. The market mood is buoyed, for corn holders in planted areas are waiting for price hikes and reserved corn auctions enjoy a boom today. (The auction notice for next week is still not issued, which means this week may be the final). Corn market may run firmly under a tight supply and demand pattern in the short term. However, some traders may not hoard their stock any more in view of the purchasing price of 2 yuan/kg on Shandong market. In addition, some corn from Northeast China has carved out a way to the Northern market. This may ease the supply tensions, so buyers need to be cautious of the overnight supply pressure risks from intensive sales. On the side, hog farmers are reluctant to replenish under the intensified African swine fever, which is unfavorable to the increment of corn feed consumption. And later focus will be on weather in main planted areas and sale progress of corn on distribution markets.

　　 

　　Sorghum: Imported sorghum price keeps stable today (US sorghum: raw sorghum is unchanged at 2,100 and 2,130-2,150 yuan/tonnes in Nantong and Shanghai respectively. Australian sorghum: raw sorghum and dried sorghum remain steadily at 2,210 and 2,320 yuan/tonne respectively in Tianjin, at 2,250 and 2,350 yuan/tonne separately in Qingdao and raw sorghum is unchanged at 2,320 yuan/tonne in Shanghai. Domestic sorghum price also stays steady: raw sorghum at 1,700-1,740 and dried sorghum with freight at 1,800-1,840 in Hinggan League, Inner Mongolia, respectively at 1,700 and 1,760 yuan/tonne in Qiqihar, Heilongjiang, respectively at 1,900 and 2,000 yuan/tonne in Daqing, Heilongjiang, and respectively at 2,100 and 2,200 in Changchun, Jilin).

　　Barley: Price for barley at port stays stable today (Australian barley: 2,100 yuan/tonne in Shandong, unchanged; 2,150 in Nantong, unchanged. French barley: 1,970-1,980 in Nantong, unchanged).

　　Importers tend to hold back at the thought of high-cost US sorghum due to the escalating trade spat, while the import cost of Australian sorghum is also raised substantially by the droughts. In this context, sorghum import volume continues shrinking at ports, of which stock at Guangdong port has dwindled to a low level of 32,000 tonnes. On worries of the difficulty to replenish such low-cost supply, importers tend to hoard their stocks to support prices. Merely, as the energy feed substitute of corn, sorghum and barley post no price advantage against corn, while the weak demand for corn is cracking down on the shipment of grains at ports. In the co-existence of the bull and the bear, grain prices remain stable. The overall market is predicted to remain stable in the near term, despite some slight fluctuations.