Today (Aug 14), the market for grains in China is shown as follows:

Corn:

Corn prices in China mostly keep steady but still drop in some regions. And the average price is 2,273 CNY/tonne nationwide, down by 5 CNY/tonne from yesterday. The price among deep-processing enterprises in Shandong prevails at 2,430-2,496 CNY/tonne with a decline of 30 CNY/tonne compared to yesterday. At Jinzhou port, Liaoning, the old corn with moisture 14.5% and volume weight 690 g/L is priced at 2,190-2,200 CNY/tonne, down by 10 CNY/tonne in low level. And old corn with moisture 14.5% and volume weight 720 g/L is steadily priced at 2,220 CNY/tonne. At Shekou port, Guangdong, the offer for Grade-II new corn remains flat at 2,430-2,440 CNY/tonne. The price of old corn is not available. Nevertheless, some traders offer it at 2,390-2,400 CNY/tonne, unchanged with yesterday.

Corn stocks are mainly in middle and large traders’ hands, and traders are still reluctant to sell stocks considering high cost. Moreover, corn futures on Dalian Commodity Exchange today sharply rise, which bolsters market. Meanwhile, due to rainy weather and falling price, corn arrival in Shandong today declines by more than half of early this week to only around 600 trucks. Accordingly, the businesses are cautious in adjusting price, and corn prices mainly stay stable in Southern and Northern areas. Buyers can keep eyes on the arrival status in Shandong and ex-warehouse of corn in Northeastern area after the weather clears up.

Sorghum:

Domestic sorghum prices are stable with a partial rise today, of which dried sorghum prices prevail at around 2,840-2,900 CNY/tonne. Domestic sorghum supplies are reducing and margins are growing, so that farmers and traders both tend to prop up prices. However, Chinese importers have bought relatively huge amount of sorghum, which will be at relatively low prices. Moreover, it become more difficult to stock up sorghum as the weather gets warmer and warmer, and distilleries have also suspended purchases and production entering the hottest period of summer. These together weigh down domestic sorghum market to some extent. Overall, domestic sorghum prices are predicted to maintain its stable trend.

Imported sorghum prices are stable in China today, as market participants are concerned that escalating U.S.-China tensions could affect future imports of sorghum. Moreover, the cost of importing sorghum is also strengthening due to the coronavirus pandemic. However, imported sorghum stocks at Guangdong ports still total 432,000 tonnes as of Aug 7. And an expected rise in sorghum arrivals will probably weigh down US sorghum prices in China. Participants can focus on the development of US-China relations.

Barley:

Imported barley prices steady 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. Chinese importers now are scarcely interested in Australian grains. And as of Aug 7th, imported barley stocks totaled 63,000 tonnes at Guangdong ports. The relatively low stocks and the cost of import together help support barley prices. Merely, 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 ¥6.94)