Today (May 28), the market for grains in China is shown as follows:
Corn:
Corn prices continue increasing in several regions of China today. The price among deep-processing enterprises in Shandong prevails at 2,130-2,200 CNY/tonne with a rise of 10-20 CNY/tonne compared with yesterday. At Jinzhou port, Liaoning, the purchasing price of corn remains flat from yesterday at 2,000 CNY/tonne (moisture 15% and volume weight 700 g/L) and 2,020 CNY/tonne (moisture 15% and volume weight 720 g/L), respectively. At Shekou port, Guangdong, the second-class corn price is raised to 2,140 CNY/tonne, up 20-30 CNY/tonne from yesterday.
The first round of auction for temporary-reserved corn was held today, totaling 4 mln tonnes. In light of the auction result, the premium topped 250 CNY/tonne and the close rate generally reached 100%, shoring up market confidence. And traders who have stocks in hand become reluctant to sell corn and halted the sale. Today, the morning arrivals in Shandong were less than 200 trucks. And corn price at ports jumped after the auction, with a rise of 10-30 CNY/tonne. Therefore, corn price will still be boosted by market mood and go strongly in a short term. Buyers can pay attention to the auction next week and progress in stocks removal.
Sorghum:
Domestic sorghum prices are stable today, of which dried sorghum prices prevail at around 2,700-2,720 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, and warmer weather also makes it difficult to keep goods in stock, which will to some extent weigh on domestic sorghum market. Overall, domestic sorghum prices are predicted to maintain its stable trend.
Imported sorghum prices steady today, of which US raw sorghum is quoted at 2,080 CNY/tonne. There is no goods available at both Tianjin port and Shanghai port, and only some small supply at Guangdong ports, which support US sorghum prices to maintain a strengthening trend. However, in the week ending May 21st, US sorghum exports to China mainland totaled 141,783 tonnes, with a total of 1,287,233 tonnes since March, according to USDA weekly report on exports for inspected. This weighs down sorghum market prospect.
Barley:
Imported barley prices are stable today. Starting May 19, China has begun to impose 80.5% of anti-dumping and anti-subsidy tariffs on barley originating in Australia for five years, according to announcements by China’s Ministry of Commerce on May 18th. But barley is in weak demand and slow shipments at present. Overall, imported barley prices are predicted to keep steady with a strengthening trend overall.
(USD $1=CNY ￥7.13)
