Today (Apr. 13), the market for grains in China is shown as follows:

Corn prices fluctuate slightly in some regions of China today. The price among deep-processing enterprises in Shandong prevails at 1,994-2,080 yuan/tonne with partial adjustment of 6-30 yuan/tonne compared to last Friday. 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 Shekou port, Guangdong, the second-class corn price remains at 2,040 yuan/tonne unchanged with last Friday.

There are around 500 trucks arriving in Shandong this morning, which has increased but not many on the whole. Besides, 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. 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, so bullish fundamentals bolster the market. But news has it that the auction will be brought forward this year and the starting price will remain flat from last year, which contradict the prediction of higher price. In this case, many enterprises are in a wait-and-see mood. And corn price is projected to be weak in rising and mainly 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. 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 higher today, of which dried sorghum prices prevail at around 2,700-2,800 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 rise today, of which US raw sorghum is quoted at 2060-2,070 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. The market is positive about the prospect of feed demand from the second quarter, as feed mills have a decent demand recently. Traders tend to stall sales to prop up prices. Overall, imported barley price is predicted to stay stable.