Today (Nov.30th), the market for grains in China is shown as follows:
Corn: Domestic corn price posts narrow adjustments steadily today. The price is 1,956-2,080 yuan/tonne among Shandong processing enterprises, down slightly by 6-12 yuan/tonne from yesterday. At Jinzhou port, Liaoning, old corn is unchanged at 1,860 yuan/tonne (volume weight 700 g/L); 2018 new corn with 30% moisture is unchanged at 1,600 yuan/tonne, 15% moisture of volume weight over 700 g/L is unchanged at 1,890-1,900 yuan/tonne, and 15% moisture of volume weight over 720 g/L goes up by 30 yuan/tonne at highs to 1,920-1,980 yuan/tonne. At Bayuquan port, 2018 new corn is unchanged at 1,920-1,930 yuan/tonne (volume weight 700-720 g/L); old corn is unchanged at 1,820-1,850 yuan/tonne (volume weight 690-700 g/L, mildew 3-4%). At Shekou port, Guangdong, second-class old corn is unchanged at 2,010-2,030 yuan/tonne.
Subject to the sentiment of hoarding for bullish market among farmers, new corn sales are still slow in Northeastern regions, so some surrounding processing enterprises employ themselves actively in purchasing, pushing another price hike of 30-100 yuan/tonne today. Corn price will edge up easily in Northeast before periodical supply tensions ease. But corn marketing amount has been on the rise in North market as holders turn a little looser in hoarding, so some Shandong processors have begun to mark down their purchasing price, by another 6-10 yuan/tonne today. Besides, planters are expected to enter into a sale cycle heading into December after harvesting their late corn. Additionally, corn market is curbed by slow feed consumption amid the contagious African swine fever on the other side. As uncertainties still remains, later focus is on sale paces among planters.
Sorghum: Imported sorghum price stays stable today. (US sorghum: raw sorghum is unchanged at 2,150 yuan/tonne in Shanghai, 2,080 in Nantong, 2,080 in Zhangjiagang and 2,050 in Guangdong; dried sorghum is 2,250 in Nantong. Australian sorghum: raw sorghum is unchanged at 2,240 yuan/tonne in Tianjin, 2,250-2,280 in Shanghai, 2,250 in Nantong and 2,230-2,250 yuan/tonne in Qingdao; dried sorghum is unchanged at 2,350 in Tianjin, 2,360 in Nantong and 2,320 yuan/tonne in Qingdao. Domestic sorghum price keeps steady today: In Yuncheng, Shanxi, raw sorghum is unchanged at 2,120 yuan/tonne; in inner Mongolia, raw sorghum and dried sorghum with freight remain unchanged at 2,040-2,060 and 2,120 yuan/tonne in Hinggan League, and 2,080-2,100 and 2,200 yuan/tonne in Chifeng; in Changchun, Jilin, dried sorghum with freight is unchanged at 2,240 yuan/tonne; and in Heilongjiang, raw sorghum and dried sorghum with freight remain unchanged at 1,900 and 2,060 yuan/tonne in Qiqihar and 2,000 and 2,100 yuan/tonne in Daqing, and dried sorghum is unchanged at 2,040-2,100 yuan/tonne in Heihe).
Barley: Barley price stays stable today. (Australian barley: raw sorghum is unchanged at 2,200 yuan/tonne in Qingdao; Canadian barley: raw barley is unchanged at 2,120-2,130 yuan/tonne in Nantong; French barley: raw barley is unchanged at 2,070-2,080 yuan/tonne in Nantong; Ukrainian barley: raw sorghum is unchanged at 1,960 yuan/tonne in Guangdong).
Currently, import cost for US sorghum remains at a historical high level so that importers have no intention for purchase. In this case, import volume of port US sorghum keeps sliding, under which Guangdong port, usually accounting for the lion’s share, has seen a record low of 4,000 tonnes in stock. Meanwhile, import cost for Australian sorghum also remains high, which gives support to sorghum market. Additionally, import volume of Australian barley may reduced later for its cost may increase sharply due to the anti-dumping policy, and buoyed by this, many holders are hoarding to support the price now. Merely, the overall demand is soft at present, for both sorghum and barley, as energy feed substitutes of corn, have lost their price advantages, which curbs port grain shipment. In the coexistence of the bull and the bear, port grain market stays stable today, and port sorghum and barley market will likely steady to consolidate in the
short term.
(USD $1=CNY 6.94)
