Today (Nov. 14), the market for grains in China is shown as follows:

Domestic corn price declines slows in some regions today. The price prevails at 1,940-2,020 yuan/tonne among deep-processing enterprises in Shandong with individual declines of 10 yuan/tonne compared with yesterday. At Jinzhou port, Liaoning, the purchasing price of new corn in 2019 (moisture 14.5% and test weight over 720 g/L) is 1,840-1,850 yuan/tonne down by 10 yuan/tonne from low levels compared with yesterday, and FOB price is 1,890-1,900 yuan/tonne; while the purchasing price of corn (moisture below 15% and test weight 690-700 g/L) is 1,810-1,825 yuan/tonne unchanged from yesterday. At Bayuquan port, new corn in 2019 is traded at 1,815-1,820 yuan/tonne (test weight 700 g/L) unchanged with yesterday and 1,840 yuan/tonne (test weight 720 g/L) the same as yesterday. At Shekou port, Guangdong, the second-class corn is steadily priced at 1,970 yuan/tonne from yesterday.

With a significant increasing of the corn arriving at deep-processing enterprises, some enterprises lower the purchasing price continuously, and the arrivals of Shandong enterprises decrease by more than 160 trucks today. In addition, the rain and snow in Northeast also have an effect on the goods volume at ports in the morning which has decreased in parts of Northeast area and Northern ports. The downtrend of corn market slows today, so participants need to focus on the pace of corn selling by farmers. If the arrivals of corn continue to decrease, the price may be propped up. Nevertheless, the late pressure can not be ignored as market has entered into a sales cycle of corn.

Domestic sorghum prices are stable today, of which dried sorghum is priced at 2,360-2,500 yuan/tonne. (In Heilongjiang, dried sorghum 2,200 yuan/tonne in Qiqihar. In Inner Mongolia, dried sorghum 2,200 yuan/tonne in Qiqihar, raw sorghum 2,260 yuan/tonne and dried sorghum 2,360 yuan/tonne in Hinggan League; 2019 dried sorghum 2,440 yuan/tonne in Chifeng. In Jilin Province, dried sorghum 2,460 yuan/tonne in Songyuan and 2,300-2,320 yuan/tonne in Qian’an, and raw sorghum 2,300 yuan/tonne and dried sorghum 2,380 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 steady today, of which Australian sorghum is priced at 2,400-2,500 yuan/tonne at domestic ports. (Tianjin port: Australian raw sorghum 2,400 and dried sorghum 2,500 yuan/tonne; US raw sorghum 2,130 and dried sorghum 2,270 yuan/tonne. Guangdong port: US raw sorghum 2,120 yuan/tonne. Suqian: US sorghum 2,420 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 barley for feed 1,870 yuan/tonne, Australian raw barley 2,080-2,100, French barley 1,770-1,780, and Ukrainian raw barley 1,720-1,730; 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 5 cargoes, or around 296,000 tonnes, for 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.