Today (Oct 16), the market for grains in China is shown as follows:

Corn:

Corn prices continue increasing in China today. And the average price is 2,387 CNY/tonne nationwide, up 9 CNY/tonne from yesterday. The price among deep-processing enterprises in Shandong prevails at 2,380-2,510 CNY/tonne with a rise of 10-60 CNY/tonne compared to yesterday. At Jinzhou port, Liaoning, the purchasing price of 2020 new corn remains at 2,490-2,500 CNY/tonne, flat from yesterday. Tiancheng Group in Siping, Jilin has started purchasing new corn since Sept 29, and offered the price of Grade-III new corn still at 2,240 CNY/tonne. The purchasing price of Grade-III new corn offered by Longfeng company in Suihua Qinggang, Heilongjiang is raised to 2,200 CNY/tonne, up 20 CNY/tonne from yesterday.

Due to reduced corn output in growing area and less corn volume oriented by policy, corn supply in market gets tightened. And marketers are bulling the outlook, so they intend to stock up corn. There is a 100% deal in Changchun, Jilin today being auctioned on website of Sinograin, and the highest price of Grade-I corn is as high as 2,595 CNY/tonne. For the moment, Northeastern corn has not largely gone marketing yet, and there is corn from North China flowing into Northeast market. As of now, corn sales in North China are relatively slow on the whole. In light of demand side, corn consumption among deep-processing enterprises in Northeast area is steadily increasing, thereby seeing a steady growth in feed production in recent months and particularly larger in September. Besides, some enterprises have intention to set up warehouses amid consecutive increases. These have together boosted corn market, and the price further rises by 10-60 CNY/tonne in some regions today. In the near term, corn market is projected to maintain high levels amid bullish market sentiment. And buyers can close eyes on the marketing of new corn.

Sorghum:

Domestic sorghum prices are stable today. The supply of sorghum is decreasing at present and grain merchants have seen bigger margins, so that farmers and traders have strong sentiment in propping up prices. In addition, domestic sorghum will see lower production as new crops in northeastern regions have been hit by typhoons. However, imported sorghum of lower prices will be arriving at domestic ports, which will undermine domestic sorghum market. Overall, domestic sorghum prices are predicted to stay stale with a strengthening trend.

Imported sorghum prices are flat in China today with the average price at 2,506 CNY/tonne. 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, and domestic holders now have small stocks of Australian sorghum amid tensions between China and Australia. However, imported sorghum stocks at Guangdong ports still total 279,000 tonnes as of Oct 9. 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 and the average price is at 1,997 CNY/tonne. As of Oct 9, imported barley stocks totaled 643,000 tonnes at Guangdong ports. There will be vessels arriving gradually in coming months, while downstream buyers have weak demand now, which will be negative to the market. In addition, barley shipments from Argentina, Canada and France have been flowing toward China as a conflict between China and Australia reshapes global trade pattern, which is also undermining domestic barley market. Merely, China has halted barley imports from Australia’s largest grain exporter whose shipments were found with pests on multiple occasions. This further disrupts barley trade between these two nations. Overall, imported barley prices are predicted to stay stable in China.

(USD $1=CNY ¥6.73)