Today (Apr. 3), the market for grains in China is shown as follows:

Domestic corn prices extend the rally. The price prevails at 1,996-2,120 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 remains flat at 1,920-1,945 yuan/tonne (test weight 700-720 g/L) from yesterday. At Shekou port, Guangdong, the second-class corn is priced at 2,050 yuan/tonne and could be traded at 2,050 yuan/tonne.

At present, the surplus corn in main producing area bottoms out and rests less than 10% nationwide, which has surpassed the sales pace of a year earlier. In addition, the arrivals in Shandong continue decreasing this morning, which are less than 200 trucks. Besides, the ground-corn (which reserves on the floor) in Northeast China almost has been sold out and 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. With recent price keeping rising, most of traders take a wait-and-see attitude and are reluctant to sell corn stocks in hand. Accordingly, bullish fundamentals push domestic corn price higher by 10-30 yuan/tonne in many enterprises and 40-60 yuan/tonne in individual enterprises. And the price in producing areas is projected to have an upward trend recently. Nevertheless, Southern feed enterprises are not active in purchasing corn. And with cargoes of imported corn arriving at ports, the market sentiment is curbed. In consequence, corn prices at Southern and Northern ports stop increasing and turn to be stable today. Additionally, 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 rises today, of which US raw sorghum is quoted at 2,020-2,100 yuan/tonne. There is no goods available at both Nantong port and Shanghai port, and only some small supply at Tianjin and Guangdong ports. Hence, traders tend to support prices, which bolsters imported US sorghum prices to keep strengthening. But about two cargoes of US sorghum will be arriving at domestic ports in April, and with growing imports forecast, which will thus weigh on imported sorghum market.

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.