Today (Apr. 10), the market for grains in China is shown as follows:

Corn prices in China are mostly stable with individual slight adjustment today. The price among deep-processing enterprises in Shandong prevails at 2,000-2,100 yuan/tonne unchanged with 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 1,935-1,955 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.

Being affected by rainy weather in North China, corn arrivals in Shandong this morning are less than 300 trucks. And the price among deep-processing enterprises ceases the decline and turns to be steady. Besides, the surplus corn in main producing area bottoms out and rests about 10% nationwide, which has surpassed the sales pace of a year earlier. Moreover, markets are optimistic about the feed demand in and after the second quarter, raising traders’ reluctance in selling inventories in hand. Furthermore, the inventories of businesses are still lower than the same period last year. With bullish fundamentals offering support to market, corn price will likely fluctuate at high levels until the issue of policy-oriented auction announcement. Nevertheless, recent news has it that if the auction is not held on Apr. 23, it will be postponed to early May and the reserve price will maintain last year’s levels. Consequently, the auction is much more likely to be brought forward. In addition, there are many rumors about policy flying around the market, like the supply of oriented-corn to deep-processing enterprises. For the moment, participants’ bullish sentiment loosens, and buyers can keep eyes on the movement of policy.

Domestic sorghum prices are stable 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.