Today (Feb. 19), the market for grains in China is shown as follows:
Corn:
Domestic corn prices drop further today. The price prevails at 1,890-2,020 yuan/tonne among deep-processing enterprises in Shandong and partial price down by 10-20 yuan/tonne from yesterday. At Jinzhou port, Liaoning, some traders offer the purchasing price at 1,850-1,865 yuan/tonne down by 25-30 yuan/tonne from yesterday (moisture 14.5% and test weight 700-720 g/L). At Bayuquan port, the purchasing price of new corn of 2019 is 1,850-1,855 yuan/tonne down by 20-25 yuan/tonne compared to yesterday (test weight 690-700 g/L). At Shekou port, Guangdong, the second-class corn price declines to 1,980 yuan/tonne down by 10 yuan/tonne from yesterday, and some corn could be traded at 1,950-1,960 yuan/tonne.
Some enterprises are entrusted by relevant state departments with outgoing of policy-oriented grain. With the policy signal issuing, rural roads are gradually opened up and logistics are also resumed in succession. But before then, the sales cycle was compressed due to the novel coronavirus pneumonia epidemic, affecting the sales progress. But farmers are more willing to sell corn with the temperature rising. On the other hand, the epidemic has affected the meats consumption, and the overall demand for corn also slows down. Besides, feed enterprises often purchase on a hand-to-mouth basis. Therefore, the fundamentals are weak in phases, and domestic corn speeds up price falls today, which continues to down by 10-30 yuan/tonne. With the supply increasing, short-term corn price is still under a pressure of a further decline.
Sorghum:
Domestic sorghum price is slightly higher from that before the holidays. But traders have some difficulty making shipment under the influence the novel coronavirus pneumonia, as logistics still get interrupted due to the traffic controls. Domestic sorghum price is predicted to stay stable amid concerns over the virus.
Imported sorghum prices are available only at some ports as 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 stay stable today. But most large enterprises have not resumed work, and some traders have made pre-sales but had difficulty making shipment as 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￥7)
