Today (Jan. 10), the market for grains in China is shown as follows:

Domestic corn price stays stable with some rises today. The price prevails at 1,886-1,980 yuan/tonne among deep-processing enterprises in Shandong and individual prices adjust slightly. At Jinzhou port, Liaoning, the purchasing price of new corn in 2019 (moisture 14.5% and test weight 690-710g/L) is 1,800-1,815 yuan/tonne and the FOB price is 1,850-1,865 yuan/tonne the same as yesterday. At Bayuquan port, new corn in 2019 is traded at 1,795-1,805 yuan/tonne (test weight 690-700 g/L) flat from yesterday. At Shekou port, Guangdong, the second-class corn is steadily traded at 1,940-1,950 yuan/tonne from yesterday.

The influence of snowfall in corn belt has weakened and road transport goes back to normal, so the market supply increases. But it comes to the Little New Year next week, and farmers usually discontinue corn sale after that time. Accordingly, market sellers may gradually decrease. Besides, deep-processing enterprises and feed factories will successively end the replenishment, which will see a tepid trading in overall market. Thus, corn prices are likely to keep steady with slight fluctuations before Spring Festival on the whole. Incidentally, U.S. and China will sign the phase one trade deal next week, which will give direction for the next move in corn market. Buyers can take note.

Domestic sorghum prices are stable 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 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 sorghum2,500 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 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 barley 1,720; Guangdong port: Ukrainian barley 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.