Today (Mar. 24), the market for grains in China is shown as follows:

Domestic corn prices continue rising today. The price prevails at 1,906-1,960 yuan/tonne with partial rises of 10-14 yuan/tonne compared to yesterday among deep-processing enterprises in Shandong. At Jinzhou port, Liaoning, some traders offer the purchasing price at 1,880-1,900 yuan/tonne flat from yesterday (moisture 14.5% and test weight 700-720 g/L). At Bayuquan port, the purchasing price of new corn of 2019 is 1,895-1,905 yuan/tonne up by 5 yuan/tonne from yesterday (test weight 690-700 g/L). At Shekou port, Guangdong, the second-class corn transaction price remains at 1,980-1,990 yuan/tonne, which is unchanged with yesterday.

With the weather warming up in North China, the moisture content of wet corn gradually decreases. And there are less large-scale sales of moist corn and still over 700 trucks arriving at Shandong this morning. Meanwhile, buyers enter the market to purchase dry corn, which also offers support to market. Besides, the surplus corn in Northeast China is decreasing continually, and some of them are transferred to traders. Furthermore, deep-processing enterprises in some regions need to make replenishment as the inventories are still lower than the same period last year. Accordingly, the fundamentals still look bullish for market with a further rise of 10-20 yuan/tonne in individual regions today. Therefore, recent corn price will still stay strong, and buyers can pay attention to the later auction. 

Domestic sorghum prices are stable today, of which dried sorghum prices prevail at around 2500-2600 yuan/tonne. Currently, sorghum supply is gradually lessening, so both farmers and traders have a strong sentiment to prop up prices. But imported sorghum are in huge volume and of low prices, which will weigh on domestic sorghum market. Overall, domestic sorghum prices are predicted to maintain its stable trend.

Imported sorghum prices keep steady today, of which US raw sorghum is quoted at 1,980-2,020 yuan/tonne. Chinese importers are purchasing US sorghum after getting tariff exemptions. Around 5 cargoes will arrive in China as of June, according to Cofeed. Sorghum imports from the US will gradually increase, which will thus weigh on prices in the market. But port stocks are relatively low at present, so traders tend to support the prices, which bolsters imported US sorghum prices to keep strengthening.

Imported barley prices remain stable today. Breeding industry is slow in recovering, so feed enterprises are mostly taking hand-to-mouth buying, which is also a constraint on the market. In addition, there are concerns over a slowdown in domestic economic growth due to the spread of the epidemic. Currently, markets have some difficulty making contacts, so barley trading volume is limited. Nevertheless, barley stocks are low at present, so traders tend to stall sales to prop up prices. Overall, imported barley price is predicted to stay stable.