Today (Jan. 13), the market for grains in China is shown as follows:

Domestic corn price increases in some regions today. The price prevails at 1,880-2,000 yuan/tonne among deep-processing enterprises in Shandong, of which it partly up by 10-30 yuan/tonne from last week and individually up by 10 yuan/tonne from yesterday. At Jinzhou port, Liaoning, the purchasing price of new corn in 2019 (moisture 14.5% and test weight 690-710g/L) is 1,810-1,825 yuan/tonne and the FOB price is 1,860-1,875 yuan/tonne up by 10 yuan/tonne form yesterday. At Bayuquan port, new corn in 2019 is traded at 1,805-1,810 yuan/tonne (test weight 690-700 g/L), up by 5-10 yuan/tonne from last Friday. At Shekou port, Guangdong, the second-class corn is steadily traded at 1,940-1,950 yuan/tonne from yesterday.

With Spring Festival approaching, farmers usually discontinue corn sale after the Little New Year. Due to the tail-raising prices in end of the year, some farmers in Northeast China are reluctant to sell corn, but the stockpiling ahead of holiday of deep-processing enterprises and feed factories still on. Today, prices increase by 10-20 yuan/tonne in some regions. Hence, participants can keep eyes on the weather conditions before Spring Festival. If it is sunny, corn market may keep steady. Otherwise, the overall market may mainly rise slightly under the impact of rain and snow. Beyond that, buyers can take note about the progress in the signing of U.S.-China phase one trade deal which will give direction for the next move in corn market.

Domestic sorghum prices are stable with some declines 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 down 50 yuan to 2,600 yuan/tonne in Jinzhong. In Liaoning, dried sorghum 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. (Tianjin port: US raw sorghum 2,030 and dried sorghum 2,150 yuan/tonne; 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 also 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.