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Corn auction volume surges 9-fold this week compared with last week
According to an official Chinese website, China will auction 3.4 million tonnes of state reserve corn this week, 9 times higher than last week's volume, of which 3 million tonnes come from the three northeastern provinces and Inner Mongolia. China began auctioning state reserve corn in April this year, one month earlier than last year
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Temporary reserve auction launched, corn prices under pressure and trending downward
On Thursday, the fifth round of temporary reserve corn auctions in Northeast China began. This auction is planned to be held over two days, with a total of 3.028 million tons of temporary reserve corn to be offered. Since April 9, news of batch releases of Northeast temporary reserve corn onto the market has continued to pressure the nearby corn 1509 contract, and starch has also followed the decline due to falling corn raw material prices. Considering that the starch futures market price shows a discount pattern, the downside room for starch futures prices is limited.
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334.77 million tons of state reserve corn to be auctioned this week
3.3477 million tons of state reserve corn to be auctioned this week. China will auction 3.3477 million tons of state reserve corn this Thursday and Friday, 9 times the amount of last week, of which 2.484 million tons come from Heilongjiang. To stimulate domestic corn consumption demand, China has also raised subsidies for corn processing plants
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Corn market in Q2 may show a pattern of weakness in the north and stability in the south
Corn in Q2 may show a pattern of weakness in the north and stability in the south. In April, after the overall obvious rise in March, the domestic corn market price showed a trend of slowing gains, overall stabilization and local pullbacks. Specifically: in early April, domestic corn continued the post-Spring Festival rise. In mid-to-late April, under the influence of multiple factors such as the temporary storage corn purchase approaching its end, persistently sluggish auction transactions and overall market demand falling into a "predicament", domestic corn market prices showed a "general decline" pattern.
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Widening corn price gap at home and abroad may accelerate corn imports
Analysts say that as international corn prices tumble sharply, the price gap between China's domestic corn prices and the international market has widened further, making full-tariff imports more economically viable, and China's corn imports are expected to grow. China is the world's second-largest corn
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11 major corn-producing regions have purchased a cumulative total of 130.46 million tons of newly harvested corn.
The State Administration of Grain announced on the 6th that as of April 30, grain enterprises of various types in 11 major corn-producing regions including Heilongjiang and Jilin had purchased a cumulative total of 130.46 million tons of newly harvested corn, an increase of 14.44 million tons over the same period last year. According to statistics, as of April 30, grain enterprises of various types in 14 major mid-to-late indica rice-producing regions including Hubei and Anhui had purchased a cumulative total of 28.21 million tons of newly harvested mid-to-late indica rice, a decrease of 1.52 million tons over the same period last year; grain enterprises of various types in 7 major japonica rice-producing regions including Heilongjiang and Jiangsu had purchased a cumulative total of 39.84 million tons of newly harvested japonica rice, an increase of 6.82 million tons over the same period last year.
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China's out-of-quota corn imports carry high risks
Although the widening price gap between domestic corn and the international market has made full-tariff corn imports more attractive, analysts point out that out-of-quota imports carry significant risks, mainly because domestic corn stocks are huge, and auctions of state-reserve corn could narrow the price gap between domestic and international markets.
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Direct harvesting of corn kernels requires every link in the chain to be smoothed out
Modern agriculture is no longer simply about pursuing grain output; it must take into account the overall benefits of the entire industry. Farmers' incomes are no longer raised solely by "growing more grain." The benefits of cost savings and efficiency gains at every link have led more and more farmers to start keeping a "profit ledger."
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Why Are Corn Prices Weak? Ample Supply in Sales Areas, Social Inventories Still Being Released
I. Spot Market Northeast Production Areas: Outbound shipments from production areas temporarily stable; spring planting underway in Heilongjiang Currently, traders in Northeast production areas are still releasing inventory, and outbound prices remain stable compared with last week. At present, grain sources in the hands of farmers in Liaoning and Inner Mongolia are basically sold out, while some villages in Jilin and Heilongjiang still have corn for sale, but farmers' asking prices are relatively high, traders' current purchasing willingness is not strong, and buying and selling are sluggish. Regarding spring planting, all Northeast regions except Heilongjiang have completed spring planting, and seedling emergence in Jilin and Inner Mongolia is good. Rainfall this week effectively alleviated the earlier drought in Liaoning. In eastern and northern Heilongjiang, planting was delayed due to low temperatures earlier, and spring planting work is still underway.
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China's annual corn imports remain stable
According to the May global grain market trade report released by the United States Department of Agriculture, China's corn imports in 2015/16 are expected to remain stable at 3 million tons, because domestic corn production is expected to hit a record high, domestic stocks are sufficient, and the government encourages traders to purchase domestic corn
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