Today (Oct. 29), the market for grains in China is shown as follows:

Domestic corn price stays stable with some rises of 10-20 yuan/tonne today. The price prevails at 1,926-1,990 yuan/tonne among deep-processing enterprises in Shandong with some rises of 10 yuan/tonne from yesterday. At Jinzhou port, Liaoning, the purchasing price of new corn with 14.5% moisture in 2019 is 1,830-1840 yuan/tonne (test weight over 720 g/L) and FOB price is 1,880-1,890 yuan/tonne same as yesterday; while the purchasing price of corn test weight 690-720 g/L is 1,790-1,810 yuan/tonne and exit price is 1,840-1,860 yuan/tonne unchanged with yesterday. At Bayuquan port, new corn in 2019 is steadily priced at 1,790-1,800 yuan/tonne (moisture 14.5%-15%) from yesterday. At Shekou port, Guangdong, the second-class corn is steadily traded at 1,980 yuan/tonne from yesterday.

New corn has not gone marketing in huge quantity yet. Besides, farmers are reluctant to sale corn in hand due to the unacceptable price. Meanwhile, the arrivals of corn in some Northern deep-processing enterprises and at ports are still insufficient, which is lower than the same period last year. Hence, the price is supported by phased tight supply and increases by 10-20 yuan/tonne continuously in some enterprises and ports in Shandong. However, under the marketing of new corn, feed enterprises mostly maintain a safety stock and buy on immediate demand, which will limit the rises of spot goods at this stage. Therefore, corn price is likely to maintain a strong trend before a large quantity of marketing, and buyers can keep eyes on the pace of corn sold by farmers after mid-November.

Imported sorghum prices stay stable today. (U.S. sorghum: raw sorghum and dried sorghum are respectively at 2,140 yuan/tonne and 2,270 yuan/tonne at Tianjin port, and raw sorghum is 2,200 yuan in Nantong and 2,150 yuan in Guangdong; Australian sorghum: bulk raw sorghum is 2,410 yuan/tonne and dried sorghum is 2,510 yuan/tonne in Tianjin).

Domestic sorghum prices keep steady with some declines in raw sorghum today. In Inner Mongolia, raw sorghum is 2,100 yuan/tonne and dried sorghum is 2,240 yuan/tonne in Hinggan League; 2019 dried sorghum is 2,300 yuan/tonne in Chifeng; and dried sorghum is 2,300 yuan/tonne in Tongliao. In Jilin Province, dried sorghum is 2,100 yuan/tonne in Changchun; dried sorghum with loading is 2,360 yuan/tonne in Songyuan; raw sorghum is lower by 40 yuan at 2,160 yuan/tonne and dried sorghum is 2,300 yuan in Taonan; and dried sorghum is 2,200 yuan/tonne in Qian’an. In Heilongjiang Province, dried sorghum with loading is 2,200 yuan/tonne in Qiqihar; dried sorghum with loading is 2,300 yuan/tonne in Daqing. In Shanxi Province, dried sorghum is 2,400 yuan/tonne in Jinzhong, dried sorghum in standard bag is 2,260 yuan/tonne in Datong, and dried sorghum is 2,340 yuan/tonne in Shuozhou. 

Imported barley prices remain unchanged today. (Nantong port: Canadian brewing barley is not offered; Qingdao port: Canadian brewing barley is 1,880 yuan/tonne and French brewing barley is 2,030 yuan/tonne. Australian barley: bulk raw barley is 2,150 yuan/tonne in Nantong and raw barley is 2,400 yuan/tonne in Tianjin; Canadian barley: raw barley is 1,880 yuan/tonne in Nantong and not offered at Qingdao port; French barley: raw barley is not offered at Qingdao port and 1,800 yuan/tonne in Nantong; Ukrainian barley: raw barley is 1,740 yuan/tonne in Nantong and 1,710 yuan/tonne in Guangdong; Kazakhstan barley: raw barley is not offered at Tianjin port).

Sorghum prices are weighed down by weak demand, as its prices still cannot compete with corn prices. Barley importers have a strong intention to prop up prices due to low stocks and stubbornly high import cost from Australia. Domestic sorghum has smaller planting acreage this year, and lower quality and production due to the frost earlier than usual, so new sorghum prices also keep firm. In term of as energy feed, port sorghum and barley are unable to compete with corn. And the demand for grains is also subdued by the African swine fever, which has roiled the hog production and decimated the hog herd and sows in China. This will also curb the spot markets. 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.