Today (Nov. 7), the market for grains in China is shown as follows:

Domestic corn price stays stable with slight fluctuations in some regions today. The price prevails at 1,940-2,020 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 1,850-1,860 yuan/tonne down by 20 yuan/tonne from yesterday, and FOB price is 1,900-1,910 yuan/tonne; while the purchasing price of corn (moisture below 15% and test weight 690-700 g/L) is 1,830-1,835 yuan/tonne down by 10-15 yuan/tonne from yesterday and exit price is 1,880-1,885 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 yuan/tonne (test weight 720 g/L) down by 10 yuan/tonne at the high level from yesterday. At Shekou port, Guangdong, the second-class corn is traded at 1,990-2,000 yuan/tonne, while individual prices are 1,980 yuan/tonne a little down by 10 yuan/tonne from yesterday.

The temperature in Northeast areas is high, and some farmers are less reluctant to sell corn as prices rise. Thus, there is an increase in marketing volume of producing areas, and morning volume of corn at Northern ports increases continuously. Then corn price drops by 10-20 yuan/tonne under pressure today. However, there is still small quantity of corn arrived at North China enterprises under a safety inventory level, and price continues to up by 10-20 yuan/tonne. In the late period, buyers can focus on the situation of corn marketing in Northeast areas. If the volume keeps increasing, ports may be under pressure of falling back. And corn price will also be curbed when Northeast corn flows into market in North China, so buyers should pay more attention to this situation.

Domestic sorghum prices stay stable today, of which dried sorghum is priced at 2,300-2,450 yuan/tonne. (In Heilongjiang, dried sorghum 2,300 yuan/tonne in Qiqihar. In Inner Mongolia, raw sorghum 2,260 yuan/tonne and dried sorghum 2,360 yuan/tonne in Hinggan League; 2019 dried sorghum2,420 yuan/tonne in Chifeng. In Jilin Province, dried sorghum2,460 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 barley1,880 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.