Today (Mar 8), the market for grains in China is shown as follows:

Corn:

Corn prices in China move with fluctuations today. And the average price is 2,938 CNY/tonne nationwide, down 8 CNY/tonne from last Friday. Deep-processing enterprises in Shandong offer at 2,970-3,160 CNY/tonne, a slight adjustment of 4-100 CNY/tonne from last Friday. At Jinzhou port, Liaoning, 2020 new corn (volume weight with 720 g/L, moisture content within 15%, impurity with 1%, dent with 8%, mildew with 2%) is purchased at 2,910 CNY/tonne, a decline of 20 CNY/tonne from yesterday. At Bayuquan port, Liaoning, the purchasing price of 2020 new corn (volume weight with 720 g/L, moisture content within 15%, impurity with 1%, mildew with 2%) prevails at 2,910 CNY/tonne. At Guangdong port, Grade II new corn is priced at 2,930 CNY/tonne, down 20 CNY/tonne from the high level.

There are around 600 trucks waiting to get unloaded in Shandong earlier this morning. Enterprises mostly take a wait-and-see attitude and partly trim the price by 10-40 CNY/tonne. With weather in Northeast China warming, some farmers are selling the wet corn successively. In this case, the marketing volume gradually picks up, so some businesses cut price by 10-20 CNY/tonne. On the other side, the demand from Southern market is still flat, and African swine fever takes resurgence in some areas. Accordingly, pig farms look bearish on after-market and are active in slaughtering hogs. Besides, with the alternatives of corn increasing, corn prices are 10-30 CNY/tonne than last Friday at Southern ports in tepid trade. Nevertheless, due to a reduction in production in main producing regions and less corn released under policy, corn market is heading for a foreseeable tight supply, offering support to market. Plus, corn sales are in faster progress than formers years due to early high prices, so corn stocks are not many left in some farmers’ hand, raising market’s reluctance in selling corn. But downstream deep-processing enterprises have resumed the purchase in succession. Corn stocks have basically fallen to a low level after consumptions during the Spring Festival holidays, so many enterprises are in need of making replenishment. These have offered support to corn prices. Overall, corn market is expected to move with fluctuations in the near term. Market participants should keep close eyes on the next policy guidelines.

Sorghum:

Domestic sorghum prices are stable today, of which dried red sorghum remains unchanged at 4,200 CNY/tonne in Changchun, Jilin and 4,160 CNY in Jinzhong, Jiangxi. Traders and brewery owners are making purchases now and logistics are at a normal state, in addition to small supply in the market, so domestic sorghum prices are supported. Domestic sorghum market is predicted to be little change and keep steady overall.

Imported sorghum prices decline in China today, of which raw U.S. sorghum is down 50 CNY to 2,630-2,650CNY/tonne at Tianjin Port and down 30 CNY to 2,720 CNY at Guangdong ports. Huge sorghum arrivals at ports are weighing on prices, but as a substitute for corn, imported sorghum keeps firm under the support of high corn prices. Overall, imported sorghum prices are expected to steady before huge cargoes arriving at ports.

Barley:

Imported barley prices fall in China today, of which Canadian barley remains at 2,440 CNY at Guangdong ports; goes down 20 CNY to 2,450 CNY/tonne at Qingdao port; and remain at 2,420-2,450 CNY at Nandong Port. There are more imported barley cargoes expected to arrive at domestic ports, and some feed millers are making purchases with the completion of the Chinese Lunar New Year holidays. Overall, imported barley prices are predicted to be little changed and stay stable in China.

(USD $1=CNY ¥6.48)