Today (Apr. 8), the market for grains in China is shown as follows:

Corn price is stable among most of domestic enterprises but drops slightly compared to yesterday among some enterprises in North China. The price among deep-processing enterprises in Shandong prevails at 2,000-2,100 yuan/tonne with a further decline of 10-16 yuan/tonne compared to yesterday. 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. At Bayuquan port, the purchasing price is 1,930-1,955 yuan/tonne (volume weight 700-720 g/L) flat from yesterday. At Shekou port, Guangdong, the second-class corn price remains at 2,040 yuan/tonne unchanged with yesterday.

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, there are around 1600 trucks arriving in Shandong this morning, while the daily arrival is only at 200-300 trucks compared to last week. Such being the case, corn price among some Shandong enterprises further declines by 10-16 yuan/tonne. Moreover, 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 about 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 stable with rises in some regions today, of which dried sorghum prices prevail at around 2,600-2,700 yuan/tonne. Both farmers and traders have a strong sentiment for higher prices, as sorghum supplies are reducing and margins are growing. 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 stable 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. 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.