Today (Nov. 6), the market for grains in China is shown as follows:

Domestic corn price stays stable with some rises in some regions today. The price prevails at 1,930-2,000 yuan/tonne among deep-processing enterprises in Shandong partially up by 10-20 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 unchanged from yesterday, and the 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 same as 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 arrivals of corn in North China are still not good, and the prices in some enterprises keep increasing 10-20 yuan/tonne. However, the temperature in Northeast areas is high, and some farmers are slightly less reluctant to sell corn as prices rise, according to people in the industry. Therefore, the morning volumes of goods at Northern ports have increased continuously in recent two days. If recent arrivals in producing areas and at ports keep rising, the upward space of price will be curbed. But corn market will maintain a strong trend before a huge quantity of marketing.

Domestic sorghum prices stay stable today, of which dried sorghum is priced at 2300-2450 yuan/tonne. (In Heilongjiang, dried sorghum 2,300 yuan/tonne in Qiqihar. In Inner Mongolia, dried sorghum2300 yuan/tonne in Qiqihar, raw sorghum 2,260 yuan/tonne and dried sorghum 2,360 yuan/tonne in Hinggan League; 2019 dried sorghum 2,420 yuan/tonne in Chifeng. In Jilin Province, dried sorghum 2,460 yuan/tonne in Songyuan and 2,340 yuan/tonne in Qian’an, and raw sorghum2,340 yuan/tonne and dried sorghum 2,460 yuan in Taonan.) Prices for new sorghum keep firm at present, which can be contributed to its smaller planting acreage, as well as lower quality and production due to the frost earlier than usual. But the weak demand is also weighing on the prices. So short-term prices are likely to keep steady with narrow fluctuations. 

Imported sorghum prices go stable today, of which Australian sorghum is priced at 2,410-2,510 yuan/tonne at domestic ports. (Tianjin port: Australian raw sorghum 2,410 and dried sorghum 2,510 yuan/tonne; US raw sorghum at 2,140 and dried sorghum 2,270 yuan/tonne. Guangdong port: US raw sorghum at 2,120 yuan/tonne. Suqian: US sorghum 2,400 yuan/tonne.) In terms of prices, sorghum has lost a competitive advantage over corn. Besides, hog prices have begun to fall recently. The time for China and the United States to sign their phase one deal is expected to draw near, and the Chinese yuan has soared past 7, which will reduced the import cost. These factors are dragging down imported sorghum prices. However, it is hard for US sorghum to go into Chinese market due to the trade frictions. Sorghum supply sees very few increases in China now, which is a support to the prices at ports. Short-term prices are predicted to keep steady with narrow fluctuations. Participants can pay attention to the outcome of trade negotiations. 

Imported barley prices remain unchanged today, of which Australian raw barley is at 2,120-2,130 yuan/tonne at domestic ports. (Nantong port: Canadian raw feed barley 1,880 yuan/tonne, Australian raw barley 2,120-2,130, French barley 1,770-1,780, and Ukrainian raw barley 1,730; Guangdong port: Ukrainian barley 1,730 yuan/tonne.) In terms of prices, barley has lost a competitive advantage over corn. And the demand from hog breeding is also small due to the African swine fever, which is a curb on the spot market. 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. But importers have a strong intention to prop up prices due to low stocks and stubbornly high import cost from Australia. Short-term prices are predicted to keep steady with narrow fluctuations.