Today (Apr. 2), the market for grains in China is shown as follows:

Domestic corn prices keep increasing in some regions today. The price prevails at 1,976-2,090 yuan/tonne with a further rise of 10-30 yuan/tonne compared to yesterday among deep-processing enterprises in Shandong. At Jinzhou port, Liaoning, some traders offer the purchasing price at 1,920-1,950 yuan/tonne (moisture 14.5% and test weight 700-720 g/L), which is flat from yesterday. At Bayuquan port, the purchasing price keeps at 1,920-1,945 yuan/tonne (test weight 700-720 g/L) up by 15-20 yuan/tonne form yesterday. At Shekou port, Guangdong, the second-class corn transaction price remains at 2,050 yuan/tonne unchanged with yesterday.

At present, the surplus corn in main producing area bottoms out and rests less than 15% nationwide, which has surpassed the sales pace of a year earlier. Under the support of expected-higher reserve price of auction and renewal of reserved corn, traders around the country are active in replenishing corn and waiting for the higher price. In addition, the arrivals in Shandong continue decreasing this morning. Besides, the ground-corn (which reserves on the floor) in Northeast China almost has been sold out, and some of the stocks are transferred to traders. But farmers are in no hurry to sell the rest loft-corn (which reserves in loft). Furthermore, deep-processing enterprises in some regions need to make replenishment as the inventories are still lower than the same period last year. Accordingly, bullish fundamentals push domestic corn price higher by 10-30 yuan/tonne in some enterprises, and the overall market will maintain an upward trend. Nevertheless, rumor has it that deep-processing enterprises may receive 10 mln tonnes of oriented corn in mid April, so buyers can pay attention to the later auction. 

Domestic sorghum prices are stable today, of which dried sorghum prices prevail at around 2,500-2,560 yuan/tonne. Currently, sorghum supply is gradually lessening, so both farmers and traders have a strong sentiment to prop up prices. But imported sorghum is in huge volume and at relatively 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 prices, which bolsters imported US sorghum prices to keep strengthening.

Imported barley prices are unchanged today. Farmers become active making hog replenishment due to considerable breeding margins at present. And the demand from egg-poultry breeding will also pick up as schools will gradually open. The demand for barley is decent recently, and barley stocks are relatively small now, so traders tend to stall sales to prop up prices. Overall, imported barley price is predicted to stay stable.