Today (Jan. 15), the market for grains in China is shown as follows:

Today, domestic corn price mostly keeps steady and individually adjust slightly. The price prevails at 1,880-2,000 yuan/tonne among deep-processing enterprises in Shandong with slight adjustment of 6-10 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 the same as yesterday. At Bayuquan port, new corn in 2019 is traded at 1,805-1,810 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.

For the upcoming Spring Festival, 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, and traders in some regions have stopped the purchase. Besides, the stockpiling of enterprises is coming to an end, so the trading between buyers and sellers also gradually turns light. Today, corn price mostly is stable and individually fluctuates slightly. Consequently, it is expected that corn market will see no big change and mainly keep steady with small adjustments before Spring Festival. Beyond that, buyers can take note about the progress in the signing of U.S.-China phase one trade deal. Reuters reported that the text of phase one deal would be made public on January 15, except a confidential annex that will detail U.S. products and services to be purchased by China. If so, the trade deal signing is predicted to have less impact on the market.

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 2,600 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 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.