Today (Apr. 7), the market for grains in China is shown as follows:

Corn price stops rising and starts falling compared to yesterday among some enterprises in North China, but it still rises among most of domestic enterprises compared to before Tomb-sweeping Day holiday. The price among deep-processing enterprises in Shandong prevails at 2,000-2,120 yuan/tonne with a further decline of 10-20 yuan/tonne compared to yesterday but increases by 10-60 yuan/tonne compared to before holiday. At Jinzhou port, Liaoning, some traders offer the purchasing price at 1,920-1,955 yuan/tonne (moisture 14.5% and volume weight 700-720 g/L), which is flat from yesterday but up 10 yuan/tonne from last Friday. At Bayuquan port, the purchasing price is 1,930-1,955 yuan/tonne (volume weight 700-720 g/L) flat from yesterday but up 10 yuan/tonne from last Friday. At Shekou port, Guangdong, the second-class corn is priced at 2,050 yuan/tonne and could be traded at 2,040 yuan/tonne, which is unchanged with last Friday.

Corn prices are pushed to high levels continually, developing the profit space of traders with stocks in hand. And news has it that the auction will be brought forward, and traders have intention to lock the profits. In addition, the arrivals in Shandong increase sharply, which are nearly 2000 trucks, while the daily arrival is only at 200-300 trucks compared to last week. Such being the case, corn prices among most of Shandong enterprises edge down again with a decline of 10-20 yuan/tonne. But Southern feed enterprises are not active in purchasing corn. And with cargoes of imported corn arriving at ports, the market sentiment is curbed, so the rally in corn market is projected to slow. 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. Furthermore, deep-processing enterprises in some regions need to make replenishment as the inventories are still lower than the same period last year. Therefore, corn price will likely fluctuate at high levels until the policy-oriented auction becomes clear.

Domestic sorghum prices are higher today, of which dried sorghum prices prevail at around 2,600-2,700 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 are stable today, of which US raw sorghum is quoted at 2,020-2,030 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 mixed 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.