Today (Apr. 30), the market for grains in China is shown as follows:
Corn:
Domestic corn prices mainly stay stable with slight adjustment today. The price among deep-processing enterprises in Shandong prevails at 2,126-2,190 CNY/tonne and down 6-10 CNY/tonne compared with yesterday. At Jinzhou port, Liaoning, the purchasing price of corn is 2,010 CNY/tonne (moisture 15% and volume weight 700 g/L) and 2,060-2,070 CNY/tonne (moisture 15% and volume weight 720 g/L) respectively and both are flat from yesterday. At Shekou port, Guangdong, the second-class corn is priced at 2,160 CNY/tonne but traded at 2,150 CNY/tonne unchanged with yesterday.
Corn prices up to high levels after a consecutive increase, and some enterprises are in a wait-and-see mood. Particularly feed mills mostly buy on immediate demand as they’ve already made replenishment in early stage. Besides, April will soon be over and the policy auction is approaching. News has it that the charge of toll roads will be resumed nationwide since May 6th, approved by the Ministry of Transport and the State Council. During the policy-sensitive period, some traders are not reluctant for profitable sales. Furthermore, the morning arrivals of corn in Shandong continue rising today. And the prices among local deep-processing enterprises mainly are stable but with a sign of decline in individual regions. Nevertheless, the circulation of corn in market is still restricted as stocks bottoms out. Likewise, the inventories among domestic deep-processing enterprises are still lower than the same period last year. Therefore, corn market will maintain high levels before policy becomes clear. Buyers can keep close eyes on it.
Sorghum:
Domestic sorghum prices are stable today, of which dried sorghum prices prevail at around 2,800 CNY/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 to some extent weigh on domestic sorghum market. Overall, domestic sorghum prices are predicted to maintain its stable trend.
Imported sorghum prices are flat today, of which US raw sorghum is quoted at 2,080 CNY/tonne. There is no goods available at both Nantong port and Shanghai port, and only some small supply at Tianjin and Guangdong ports. However, in the week ending April 23rd, US sorghum exports to China mainland totaled 206,451 tonnes, with a total of 803,837 tonnes since March, according to USDA weekly report on exports for inspected. Hence, imported sorghum prices are predicted to remain stable before those vessels arriving.
Barley:
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 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.
(USD $1=CNY ￥7.06)
