Today (Oct. 11), the market for grains in China is shown as follows:

Domestic corn price stays stable with individual rebound today. The price prevails at 1,860-1,960 yuan/tonne among deep-processing enterprises in Shandong with some rises by 10-20 yuan/tonne from yesterday. At Jinzhou port, Liaoning, the price of new corn in 2019 is 1,760-1780 yuan/tonne unchanged with yesterday. At Bayuquan port, new corn in 2019 is priced at 1,760-1,770 yuan/tonne (moisture 14.5%-15%) with no major fluctuations from yesterday. At Shekou port, Guangdong, the second-class corn is steadily traded at 1,930 yuan/tonne from yesterday.

Traders are reluctant to do sales as corn prices drop consecutively in producing areas. Due to the less corn arrivals and rainy weather in north China, corn prices mostly stop declining and turn stable today but not rule out another rebound in recent two days. Nevertheless, the sales quantity of new corn in northern area steadily increases and supply is more adequate. But deep-processing enterprises and feed mills mainly use their own stockpiles, so the corn market is still under fundamental pressure. And corn price still dips with fluctuations overall. The pace of deals between buyers and sellers could be focused in the late period.

Imported sorghum prices stay stabletoday. (U.S. sorghum: raw sorghum is2,200 yuan/tonne and dried sorghum is 2,300-2,340 yuan/tonne at Tianjin port, and raw sorghum is not offered for out of stock in Shanghai, 2,200 yuan in Nantong, not offered in Zhangjiagang, and 2,150 yuan in Guangdong; Australian sorghum: bulk raw sorghum is 2,420 yuan/tonne and dried sorghum is2,550 yuan/tonne in Tianjin, and both out of stock in Shanghai, Qingdao and Nantong and Guangdong).

Domestic sorghum prices keep steady today. In Inner Mongolia, raw sorghum and dried sorghum are not offered for out of stock in Hinggan League; raw sorghum is not offered and 2019 dried sorghum is2,280 in Chifeng; and dried sorghum is not offered in Tongliao. In Jilin Province, dried sorghum is2,300 yuan/tonne in Changchun; raw sorghum sacks and dried sorghum with loading are not offered in Songyuan; dried sorghum is not offered in Qian’an; sorghum is not offered in Baicheng; and raw sorghum and dried sorghum sacks are not offered in Taonan. In Heilongjiang Province, dried sorghum with loading is 2,160 yuan/tonne in Qiqihar; dried sorghum with loading is 2,300 yuan/tonne in Daqing, and raw sorghum and dried sorghum are not offered in Heihe. In Shanxi Province, raw sorghum is not offered in Yuncheng, bulk dried sorghum with freight is not offered in Jinzhong, and raw sorghum with freight and dried sorghum with loading are not offered in Xinzhou. 

Imported barley prices remain unchanged today. (Australian barley: raw barley is out of stock in Qingdao and Tianjin and bulk raw barley is 2,170-2,180 yuan/tonne in Nantong; Canadian barley: raw barley is 1,880 yuan/tonne and for brewing is out of stock at Nantong port, and raw barley is not offered at Qingdao port; French barley: raw barley is not offered at Qingdao port and 1,820 yuan/tonne in Nantong; Ukrainian barley: raw barley is 1,750 yuan/tonne in Nantong and 1,730 yuan/tonne in Guangdong; Kazakhstan barley: raw barley is not offered at Tianjin port and 1,600 yuan/tonne at Alashankou pass, Xinjiang).

Domestic barley price is not offered for out of stock in Heilongjiang today.

Importers with storage in hand are propping up prices on account of low barley inventories at ports and stubbornly high cost of Australian barley. However, sorghum price is now dragged down by weak demand due to falling corn prices.Meanwhile, port sorghum and barley have lost their price advantage against corn as its energy feed substitutes. Besides, the African swine fever has roiled the original trend of hog breeding cycle in China. Small and medium-size farms have withdrawn from the market and quickened the elimination of breeding sow since the first outbreak last year, and the pig amount has fiercely cut in those provinces reported with more outbreaks. Thus, it will be hard for farmers to rebuild confidence in short time under the heavy blow of the ASF, so that the hog and sow amount has been decreasing. Given this, grain market will be curbed by its later consumption. Generally, port sorghum and barley markets are predicted to keep steady with some fluctuations in the short term, and port sorghum market may be buoyed again by concerns over trade disputes, so market participants can focus on the outcome of trade talks.