Today (Jan. 29th), the market for grains in China is shown as follows:
Corn: Domestic corn prices remain stable with slight adjustments today. The price prevails at 1,904-2,020 yuan/tonne in Shandong. At Jinzhou port, Liaoning, 2018 new corn with 15% moisture of volume weight over 700 g/L is priced steadily at 1,830-1,835 yuan/tonne, and 20% moisture is unchanged at 1,740 yuan/tonne; old corn levels off at 1,850 yuan/tonne (volume weight 700 g/L). At Bayuquan port, 2018 new corn is unchanged at 1,815-1,820 yuan/tonne. At Shekou port, Guangdong, second-class new corn is priced steadily at 1,970-1,980 yuan/tonne.
Downstream processing companies have lost motivation in purchasing with enough corn in inventory. Besides, feed companies are unwilling to stockpile this year amid shrinking demand, especially upon a predictable reduction in live pig amount after the Spring Festival amid the ASF. Corn market is thus curbed with its price price seeing another fall in some production regions today. However, local planters will be less active in selling and traders tend to wait on the sidelines entering the Preliminary Eve. Supported by decreased supply in this period, corn market will trend steadily before the Spring Festival.
Sorghum: Imported sorghum prices keep steady today. (US sorghum: raw sorghum is unchanged at 2,120 yuan/tonne in Shanghai and not offered for out of stocks in Nantong, Zhangjiagang and Guangdong. Australian sorghum: raw sorghum remains unchanged at 2,170-2,200 yuan/tonne in Tianjin, 2,180 in Shanghai and 2,180-2,200 yuan/tonne in Qingdao; dried sorghum levels off at 2,280-2,310 in Tianjin, 2,350-2,360 in Nantong and 2,320 yuan/tonne in Qingdao. Domestic sorghum price keep firm today: In Inner Mongolia, raw sorghum and dried sorghum remain unchanged at 1,900 and 2,020 yuan/tonne Hinggan League, 2,000 and 2,100-2,140 yuan/tonne in Chifeng; and raw sorghum with freight is priced steadily at 1,940 yuan/tonne in Tongliao. In Jilin Province, dried sorghum with freight is unchanged at 2,240 yuan/tonne in Changchun, raw sorghum sacks and dried sorghum with freight are both at 2,000 yuan/tonne in Songyuan, bulk dried sorghum with freight is 2,120 yuan/tonne in Baicheng, and raw sorghum is 1,920-1,940 yuan/tonne and dried sorghum sacks 2,040 yuan/tonne in Taonan. In Heilongjiang Province, raw sorghum and dried sorghum with freight are priced steadily at 1,880 yuan/tonne and 1,960 yuan/tonne in Daqing. In Shanxi Province, raw sorghum is unchanged at 2,100 yuan/tonne in Yuncheng, bulk dried sorghum with freight is priced steadily at 2,210 yuan/tonne in Jinzhong, and raw sorghum with freight and dried sorghum with freight remain unchanged at 1,960 and 2,160 yuan/tonne in Xinzhou.
Barley: Barley price holds steady today. (Australian barley: raw sorghum is not offered in Qingdao and remains unchanged at 2,360-2,380 in Tianjin, and bulk raw sorghum is unchanged at 2,210-2,220 in Nantong; Canadian barley: raw barley is unchanged at 2,120 yuan/tonne in Nantong; French barley: raw barley is unchanged at 2,080-2,090 yuan/tonne in Nantong; Ukrainian barley: raw sorghum is priced steadily at 1,920 yuan/tonne in Guangdong).
The market has become more willing to support the price on account of supply tensions as port sorghum has nearly gone out of stock. And port barley inventory is also shrinking and holders are lifting the price on account of stubbornly high cost of Australian barley. Nevertheless, spot markets of port sorghum and barley have been curbed by following two aspects. First, port sorghum and barley, as energy feed substitute to corn, have lost their price advantage against corn. Second, grain demand has turned light as feed companies remain cautious in purchasing amid slow consumption when hog industry has been plagued by ongoing epidemic so that hog farmers have been trying to slaughter their breeding pigs before the Spring Festival while drastically decreasing piglet replenishment. In the coexistence of the bull and the bear, port grain price remains stable today, and port sorghum and barley markets are predicted to keep steady with some fluctuations in the short term.
(USD $1=CNY 6.73)
