Today (Dec.14th), the market for grains in China is shown as follows:
Corn: Domestic corn price stays stable to show weak fluctuations today. Prices mostly stay at a range of 1,928-2,080 yuan/tonne among Shandong processing enterprises, some down by another 4-14 yuan/tonne. At Jinzhou port, Liaoning, 2018 new corn with 30% moisture is unchanged at?1,560 yuan/tonne, and 15% moisture of volume weight over 700 g/L goes down by 20 yuan/tonne to 1,880 yuan/tonne; old corn is unchanged at 1,840 yuan/tonne (volume weight 700 g/L). At Bayuquan port, 2018 new corn is unchanged at 1,870-1,880 yuan/tonne (volume weight 700-720 g/L). At Shekou port, Guangdong, second-class old corn is unchanged at 1,990-2,010 yuan/tonne.
Corn supply has gradually increased as some stockists have quickened their pace to handle the shipments in consideration of sale peaks under clear weather in planting areas, whilst processors now swarm to lower down corn price on account of adequate stocks and the surplus after daily processing amount, with a reduction of 6-14 yuan/tonne in Shandong and 10 yuan/tonne in Jilin. Besides, feed enterprises still take a cautious tactic in purchasing on account of the rampant African swine fever. However, planters have again showed reluctance to sell with this round of continuous declines, so there may be limited space for price declines. In the absence of bullish factors and under the pressure of looser supply & demand, short-term corn price will probably stay stable to go weak, and later focus will be on the game between the sale volumes and the demand.
Sorghum: Imported sorghum price fluctuates to adjust today. (US sorghum: raw sorghum with freight is 2,050 yuan/tonne in Shanghai, 2,110-2,120 in Nantong, and not offered in Zhangjiagang and Guangdong. Australian sorghum: raw sorghum remains unchanged at 2,230 yuan/tonne in Tianjin, goes down by 40 yuan/tonne to 2,150 in Shanghai, unchanged at 2,250 in Nantong and 2,180-2,200 yuan/tonne in Qingdao; dried sorghum is unchanged at 2,340 in Tianjin, 2,350-2,360 in Nantong and 2,280-2,300 yuan/tonne in Qingdao. Domestic sorghum price keeps broadly steady today: In Yuncheng, Shanxi, raw sorghum is unchanged at 2,100 yuan/tonne; in Hinggan League, inner Mongolia, raw sorghum and dried sorghum with freight remain unchanged at 1,940 and 2,100 yuan/tonne; in Chifeng, inner Mongolia, both raw sorghum and dried sorghum remain unchanged at 2,040-2,080 and 2,160 yuan/tonne; in Changchun, Jilin, dried sorghum with freight is unchanged at 2,240 yuan/tonne; and there is no quotation in Qiqihar, Heilongjiang; in Daqing, Heilongjiang, raw sorghum and dried sorghum with freight remain unchanged at?1,960 and 2,060 yuan/tonne; and there is no quotation in Heihe).
Barley: Barley price stays stable today. (Australian barley: raw sorghum is unchanged at 2,250 yuan/tonne in Qingdao and 2,200-2,210 in Nantong; Canadian barley: raw barley is unchanged at 2,130-2,140 yuan/tonne in Nantong; French barley: raw barley is unchanged at 2,080-2,090 yuan/tonne in Nantong; Ukrainian barley: raw sorghum is unchanged at 1,980 yuan/tonne in Guangdong).
Expectations rose that China would open its import markets now that the US and Chinese leaders had reached a consensus. The bearish sentiment for growing US sorghum imports is now cracking down sorghum market. Besides, port sorghum and barley, the energy feed substitutes of corn, have lost their price advantages so that light demand for sorghum has also weighed on the market shipment. However, port sorghum has nearly run out of stock, which makes investors become more willing to prop up the price amid supply shortages. In addition, subject to the?“anti-dumping” policy, port barley may see a smaller import volume as its import cost will be raised largely. And this will give support to barley market at its bottom. In the game of the supply and the demand, port grain prices broadly remain stable and some are mixed today, and port sorghum and barley market will likely show narrow fluctuations in the short term.
(USD $1=CNY 6.89)
