Today (Nov. 5), the market for grains in China is shown as follows:

Domestic corn price stays stagnant and stable today. The price prevails at 1,930-2,000 yuan/tonne among deep-processing enterprises in Shandong with individual rises of 10 yuan/tonne from yesterday. At Jinzhou port, Liaoning, the purchasing price of new corn in 2019 (moisture 14.5% and test weight over 720 g/L) is 1,870-1,880 yuan/tonne up by 10 yuan/tonne from yesterday and FOB price is 1,920-1,930 yuan/tonne; while the purchasing price of corn (moisture below 15% and test weight 690-700 g/L) is 1,840-1,850 yuan/tonne unchanged from yesterday and exit price is 1,890-1,900 yuan/tonne. At Bayuquan port, new corn in 2019 is priced at 1,820 yuan/tonne (test weight 700 g/L) unchanged with yesterday and 1,850-1,860 yuan/tonne (test weight 720 g/L) up by 10-20 yuan/tonne from yesterday. At Shekou port, Guangdong, the second-class corn is steadily traded at 2,000 yuan/tonne from yesterday, while individual prices are 1,990 yuan/tonne.

The morning volume in deep-processing enterprises in North China increases by 50 trucks from yesterday. Besides, the temperature in producing areas is high, and some farmers are slightly less reluctant to sell corn as prices rise, according to people in the industry. Therefore, corn price in producing areas today does not go up anymore but turn stable. In the late period, buyers can focus on the pace of new corn marketing. If farmers speed up corn selling, the bull market may be depressed; while if the arrivals of corn just increase in a short term, corn market will still maintain a strong trend.

Imported sorghum prices go 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 and2,120 yuan in Guangdong; Australian sorghum: bulk raw sorghum is 2,410 yuan/tonne and dried sorghum is 2,510 yuan/tonne in Tianjin). In terms of prices, sorghum has lost a competitive advantage over corn. Sorghum prices are thus dragged down by weak demand in the market.  

Domestic sorghum prices stay stable with some rises today. In Inner Mongolia, raw sorghum goes up by 100 yuan to 2,260 yuan/tonne and dried sorghum goes up by 20 yuan to 2,360 yuan/tonne in Hinggan League; 2019 dried sorghum is 2,420 yuan/tonne in Chifeng; and dried sorghum goes up 60 yuan to 2,360 yuan/tonne in Tongliao. In Jilin Province, dried sorghum is 2,540 yuan/tonne in Changchun; dried sorghum with loading is 2,460 yuan/tonne in Songyuan; raw sorghum is 2,340 yuan/tonne and dried sorghum is 2,460 yuan in Taonan; and dried sorghum is2,340 yuan/tonne in Qian’an. In Heilongjiang Province, dried sorghum with loading is 2,300 yuan/tonne in Qiqihar; dried sorghum with loading is 2,460 yuan/tonne in Daqing. In Shanxi Province, dried sorghum is 2,560 yuan/tonne in Jinzhong, dried sorghum to the railway station is 2,440 yuan/tonne in Datong, and dried sorghum is 2,420 yuan/tonne in Shuozhou. Domestic sorghum has smaller planting acreage this year, as well as lower quality and production due to the frost earlier than usual, so new sorghum prices this year also keep firm.

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 1,730 yuan/tonne in Guangdong; Kazakhstan barley: raw barley is not offered at Tianjin port). Barley imports total 13 cargoes, or around 680,000 tonnes, for September and October shipments in South China. Growing port supply is now weighing down the market.