Today (Feb. 3), the market for grains in China is shown as follows:
Corn:
Domestic corn prices rise today. The price prevails at 1,940-2,080 yuan/tonne among deep-processing enterprises in Shandong, up by 20-40 yuan/tonne compared to before Spring Festival holiday. At Jinzhou port, Liaoning, the purchasing price of new corn in 2019 (moisture 14.5% and test weight 690-700g/L) is 1,830-1,840 yuan/tonne and the FOB price is 1,880-1,890 yuan/tonne, and both are rising by 20-25 yuan/tonne compared to before the holiday. At Shekou port, Guangdong, the arrivals of corn decrease and port inventories remain tight. And the second-class corn price is raised to 2,080 yuan/tonne, surging by 110 yuan/tonne compared to before the holiday.
Affected by the spread of new coronavirus epidemic in China, the road closures are implemented in most parts of the country, restricting the transportation of reserved corn and making it difficult for enterprises to supply goods. Moreover, corn inventories in some enterprises is gradually tightening due to the consumption during Spring Festival and increasing restart-working factories after the holiday, especially in North China. As a result of tension in phased supply, some enterprises raise the purchasing price by a range of 20-70 yuan/tonne to attract the provision, and the price rises at ports are even as high as 90-110 yuan/tonne. Thus, corn price will stay firm until easing the condition of tight supply. At present, the surplus corn on the basic market is still sufficient. In addition, in view of the “vegetable basket” products can neither go out village nor enter the city and it is hard to replenish the feed for poultry breeding, the committees of three ministries have jointly issued an urgent notice, emphasizing the normal circulation order. Nevertheless, the tense situation may be eased gradually in the late period, so buyers can wait for the new guidance.
Sorghum:
A majority of traders have not resumed work amid a novel coronavirus outbreak, and logistics also get interrupted during this period. Domestic sorghum price is predicted to stay stable amid concerns over the virus.
Imported sorghum prices are not available since most businesses have not resumed work and logistics also get interrupted under the influence of the coronavirus. The market is worried about lower sorghum demand as the virus outbreak could have an impact on the economic growth in China. Imported sorghum price is predicted to step on a downtrend amid concerns over the virus.
Barley:
Imported barley prices are not available since most businesses have not resumed work and logistics also get interrupted under the influence of the coronavirus. Imported barley price is predicted to have a weak trend amid concerns over the virus.
(USD $1=CNY 6.93)
