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

Domestic corn price stays stable with slight fluctuations. The price prevails at 1,852-1,980 yuan/tonne among deep-processing enterprises in Shandong unchanged with yesterday, and some move in a range of 10-16 yuan/tonne compared with last Friday. At Jinzhou port, Liaoning, the purchasing price of new corn in 2019 (moisture 14.5% and test weight 690-710 g/L) is 1,800-1,815 yuan/tonne and the FOB price is 1,850-1,865 yuan/tonne with no significant fluctuations from yesterday. At Bayuquan port, new corn in 2019 is traded at 1,790-1,800 yuan/tonne (test weight 690-700 g/L) and 1,810 yuan/tonne (test weight 720 g/L) both the same as yesterday. At Shekou port, Guangdong, the second-class corn is traded at 1,940 yuan/tonne, down by 10 yuan/tonne from last Friday.

According to the habit of selling grain on the market, farmers usually discontinue the sale after the Little New Year, so there is less than half a month left to sell corn. But some farmers have to sell corn for cash before Spring Festival, so the volume put into market still be pushed forward steadily in the next days. Thus, the market is still under pressure of phased supply. Nevertheless, some deep-processing enterprises and feed factories will replenish inventory before the holiday, which will offer support to market. In a hybrid of the bull and the bear, corn price keeps steady today. And before Spring Festival, it is expected that short-term corn market still remains flat with slight fluctuations.

Domestic sorghum prices are mixed today, of which dried sorghum is priced at 2,400-2,500 yuan/tonne nationwide. (In Heilongjiang, dried sorghum 2,200 in Qiqihar and traded at 2,400 yuan in Heihe. In Inner Mongolia, raw sorghum 2,340 yuan/tonne in Hinggan League and dried sorghum 2,500 yuan/tonne in Chifeng. In Jilin Province, dried sorghum 2,540 yuan/tonne in Songyuan and up 20 yuan to 2,400 yuan/tonne in Baicheng, raw sorghum 2,340 yuan/tonne in Qian’an, and raw sorghum 2,360 yuan/tonne in Taonan. In Shanxi, dried sorghum 2,650 yuan/tonne in Jinzhong. In Liaoning, dried sorghum down 60 yuan to 2,500 yuan/tonne in Jianping.) Prices for new sorghum keep firm at present, which can be contributed to its smaller planting acreage, lower quality and production due to the frost coming earlier than usual and less surplus sorghum than last year in many regions. But as some southern distilleries have broken up for the Spring Festival, so the weak demand is also weighing down the prices. Overall, short-term prices are likely to keep steady with narrow fluctuations. 

Imported sorghum prices steady today at 2,200-2,400 yuan/tonne at domestic ports. (Nantong port: US raw sorghum 2,050-2,090 yuan/tonne; Guangdong port: US raw sorghum 2,100 yuan/tonne. Suqian: US sorghum 2,440 yuan/tonne.) In terms of prices, sorghum has lost a competitive advantage over corn, which in turn weighs down imported sorghum prices. And China has committed to buy more US agricultural products as part of the phase-1 trade deal that will be signed very soon between the two countries, so sorghum supply is alsp expected to increase in that case. Short-term sorghum price is predicted to keep steady with a slight decline. 

Imported barley prices are flat with some rises today, of which Australian raw barley is 2,000-2,100 yuan/tonne at domestic ports. (Nantong port: Canadian raw barley for feed 1,850-1,860 yuan/tonne, French barley 1,750-1,760 and Ukrainian raw barley1,720; Guangdong port: Ukrainian barley up 50 yuan to 1,830 yuan/tonne; Alataw Pass: Kazakhstan barley at 1,475 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. And growing port supply is also weighing down the market. But importers have a strong intention to prop up prices due to low stocks in hand and stubbornly high import cost from Australia. Short-term prices are predicted to keep steady with narrow fluctuations.