Today (Oct. 31), the market for grains in China is shown as follows:

Domestic corn price keeps increasing in some regions today. The price prevails at 1,930-2,000 yuan/tonne among deep-processing enterprises in Shandong with rises of 10-20 yuan/tonne from yesterday. At Jinzhou port, Liaoning, the purchasing price of new corn with 14.5% moisture (test weight over 720 g/L) in 2019 is 1,840 yuan/tonne, and the FOB price is 1,880-1,890 yuan/tonne; while another purchasing price of corn with below 15% moisture (test weight 690-700 g/L) is 1,810-1,820 yuan/tonne and exit price is 1,860-1,870 yuan/tonne both up by 10-20 yuan/tonne from yesterday. At Bayuquan port, new corn in 2019 (moisture within 15% and test weight 700-720 g/L) is priced at 1,810-1,840 yuan/tonne up by 10 yuan/tonne from yesterday. At Shekou port, Guangdong, the second-class corn price is raised further to 2,000 yuan/tonne up by 10 yuan/tonne from yesterday.

Traders are reluctant to sale new corn of producing areas. Meanwhile, the arrivals of corn in some Northern deep-processing enterprises and at ports are still small, which is lower than the same period last year, especially at Southern and Northern ports. The inventory at Northern ports is only around 1.35 mln tonnes, which hit a historical low over the past six years, while inventory at Southern ports all the way down from the low. In addition, the freight is pushed up by overload in various places. And with the factors of freight, supply and cost, corn prices in some Shandong enterprises and at ports continue rising by 10-20 yuan/tonne. Therefore, corn price is likely to maintain an upward 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 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 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. 

Barley: 

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.