Today (Feb. 28), the market for grains in China is shown as follows:

Domestic corn prices stay stable with individual slight fluctuations today. The price prevails at 1,890-1,990 yuan/tonne with some declines of 6-10 yuan/tonne compared to yesterday among deep-processing enterprises in Shandong. At Jinzhou port, Liaoning, some traders offer the purchasing price at 1,855-1,870 yuan/tonne unchanged with yesterday (moisture 14.5% and test weight 700-720 g/L). At Bayuquan port, the purchasing price of new corn of 2019 is 1,850-1,860 yuan/tonne flat from yesterday (test weight 690-700 g/L). At Shekou port, Guangdong, the second-class corn is steadily priced at 2,000 yuan/tonne and can be traded at 1,970-1,980 yuan/tonne.

The market supply in North China increases steadily in recent days with the relaxing area controls in some regions. Besides, there is still around 40% of surplus corn in main producing areas in China. On the supply side, it’s sufficient, while South feed enterprises tend to maintain safety inventory and buy on immediate demand. Nevertheless, there are still regional road closures in Northeast China, particularly in parts of Heilongjiang, which limits the circulation for corn. In addition, farmers in northeast area have not much stocks of ground-corn (which heaps on the ground) and seems in no hurry to sell the loft-corn (which reserves in loft), so the overall supply for businesses is poor. Furthermore, some deep processing enterprises have intention to make replenishment after recent consumption. In addition, the arrival of corn is affected by the rain and snow in some areas. Accordingly, these factors are offering support to market, and domestic corn prices are mostly stable with individual small fluctuations today. In a short term, corn market will mainly fluctuate slightly in stability.

Domestic sorghum prices available in some regions keep steady today, of which dried sorghum is quoted at 2500-2600 yuan/tonne. But traders have some difficulty making bulk shipments under the influence the novel coronavirus pneumonia, as logistics are slow due to the traffic controls. Domestic sorghum price is predicted to stay stable amid concerns over the virus.

Imported sorghum prices are gradually available, of which US raw sorghum is quoted at 2000-2050 yuan/tonne. Logistics are recovering as some regions cleat the blockade in roads, and enterprises are set to resume work and imports. But market participants are worried about lower sorghum demand as the virus outbreak could have an impact on the economic growth in China. And there are rising US sorghum arriving at ports. Overall, imported sorghum price is predicted to step on a downtrend amid concerns over the virus.

Imported barley prices remain stable today. Logistics are recovering as some regions cleat the blockade in roads, and enterprises are set to resume work and imports. But some traders are only making pre-sales and had difficulty making shipment as logistics are still slow under the influence of the coronavirus. Imported barley price is predicted to stay stable amid concerns over the virus.