Our data shows that the domestic wholesale price of corn spot market has fallen from the highest point of 2,379 yuan/ton for nearly two months. As of December 9, the average wholesale price of second-class yellow corn in the domestic wholesale market was 2249 yuan/ton, which is higher than that of the former. It fell 1.1% in two weeks, down 7.4% from the highest point in the previous period; Dalian corn contract closed at 2,257 Yuan/ton, which was a 3.4% increase from the previous two weeks.
From the supply side, the volume of new crop corn in the Northeast and North China production regions has been steadily increasing. The overall lower temperature in Northeast China has provided a favorable factor for the listing of corn. Although the railroad road capacity has been affected by the snow and fog weather, the overall market volume has steadily increased. In addition, the pre-price decline in farmers reluctant to sell the mood gradually improved, mainly because earlier this year's rainy weather has postponed the progress of grain sales, and earlier this year the Spring Festival, close to the new year, corn farmers need funds to repay loans and purchase new products, so will be large It is unlikely that some grain will be sold after the year is stored.
From the demand side, sales of short-term feed demand and deep processing demand are relatively flat. As for the demand for feed, the price of pork continued to fall for nearly 2 months. In addition, some farmers worried that the drop in temperature may bring about diarrhea in piglets like early 2010. Therefore, the enthusiasm of the current replenishment after the large-scale centralized slaughter in the early period was not high, and the inventory was also high. Relatively small, the demand for feed has been reduced. Therefore, feed companies are also more cautious about purchasing corn. In terms of deep-processed products, the downstream demand for starch remains weak, resulting in a backlog of products and the profits are lingering on the profit and loss line. Therefore, corn purchases are used with purchases; alcohol production is relatively good.
Finally, in terms of the state's purchasing and storage policies, the market generally expects more uncertainties. After importing corn in 2010, it was directly used in the temporary store auction sale. However, this year's situation has changed. Most of the corn imports are used to supplement national stockpiles, indicating that a series of high turnover rate deposits in the early period puts a higher consumption of inventory. Therefore, there are market participants who anticipate or will have a purchasing policy that combines pre-emptive buying and temporary purchasing and storage policies. Regardless of the method adopted, it is believed that the introduction of the policy is still one of the key factors that determine the future price trend of corn.
From the supply side, the volume of new crop corn in the Northeast and North China production regions has been steadily increasing. The overall lower temperature in Northeast China has provided a favorable factor for the listing of corn. Although the railroad road capacity has been affected by the snow and fog weather, the overall market volume has steadily increased. In addition, the pre-price decline in farmers reluctant to sell the mood gradually improved, mainly because earlier this year's rainy weather has postponed the progress of grain sales, and earlier this year the Spring Festival, close to the new year, corn farmers need funds to repay loans and purchase new products, so will be large It is unlikely that some grain will be sold after the year is stored.
From the demand side, sales of short-term feed demand and deep processing demand are relatively flat. As for the demand for feed, the price of pork continued to fall for nearly 2 months. In addition, some farmers worried that the drop in temperature may bring about diarrhea in piglets like early 2010. Therefore, the enthusiasm of the current replenishment after the large-scale centralized slaughter in the early period was not high, and the inventory was also high. Relatively small, the demand for feed has been reduced. Therefore, feed companies are also more cautious about purchasing corn. In terms of deep-processed products, the downstream demand for starch remains weak, resulting in a backlog of products and the profits are lingering on the profit and loss line. Therefore, corn purchases are used with purchases; alcohol production is relatively good.
Finally, in terms of the state's purchasing and storage policies, the market generally expects more uncertainties. After importing corn in 2010, it was directly used in the temporary store auction sale. However, this year's situation has changed. Most of the corn imports are used to supplement national stockpiles, indicating that a series of high turnover rate deposits in the early period puts a higher consumption of inventory. Therefore, there are market participants who anticipate or will have a purchasing policy that combines pre-emptive buying and temporary purchasing and storage policies. Regardless of the method adopted, it is believed that the introduction of the policy is still one of the key factors that determine the future price trend of corn.
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