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Corn temporary storage purchase price set at 1 yuan per jin in 2015
BEIJING (Reporter Yang Zhaokui) The National Development and Reform Commission, the State Administration of Grain, the Ministry of Finance, and the Agricultural Development Bank of China recently jointly issued a notice that in 2015 the state will continue to implement the temporary corn purchase and storage policy in the three northeastern provinces and the Inner Mongolia Autonomous Region. This year the state's temporary storage
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Corn-producing regions remain weak overall, industry views analyzed
Recently, the Northeast producing region has continued to maintain a sluggish market, with few purchasing entities in the market, traders actively willing to ship goods, and downstream enterprises clearly lacking in their capacity to absorb supply. In addition, new grain has begun to appear sporadically in some areas, and pessimism is strong among all parties, with corn prices continuing to come under pressure and decline.
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Why the Temporary Corn Procurement Price Can No Longer Be Temporary
Domestic temporary procurement price rises while international market prices fall. The temporary corn procurement policy has reached its eighth year, and the news farmers received is that the temporary procurement price has been lowered from 1.12 yuan per jin to 1 yuan per jin - the first cut in eight years. In Inner Mongolia, the large-scale corn grower Wang Wuhou seemed to have been mentally prepared long ago:
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Corn seed supply will be sufficient next year, with total volume able to meet demand
According to recent scheduling analysis, in China's main corn seed production areas of Gansu and Xinjiang, continuous high temperatures caused a reduction in seed output, but due to an increase in seed production area and large inventories, the total corn seed supply next year will be able to meet demand. Corn seed production in Gansu and Xinjiang fell by 10% to 40%.
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Is the corn price determined by the market or dominated by policy?
The price for the state's temporary purchase and storage of corn has been finalized this year at 1 yuan per jin, at most 0.12 yuan per jin lower than last year. This is the first cut since the corn temporary storage policy was implemented in 2007. This subtle change sends a signal to the market: high-price floor
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Industry expects corn prices may still have room to fall around National Day
Since the announcement of the new temporary corn reserve policy, corn prices in the North China and Northeast production areas have all declined, with prices in North China falling particularly sharply, and new and old corn prices are basically the same. At the same time, the pressure from the new corn coming onto the market is gradually emerging, and the corn market at northern and southern ports remains weak.
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Lowered Temporary Corn Reserve Price: Farmers Should Not Bear the Entire Pain of Reform
Reform is necessary, and adjustment is necessary, but the pain of reform and development cannot be borne entirely by farmers. Grain is, after all, a special commodity; when farmers grow grain, it is itself a responsibility and contribution to national food security, and the cost of market fluctuations cannot
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National corn inventory exceeds 200 billion kilograms, far above a reasonable level
Statistics show that the corn inventory held by various types of enterprises nationwide currently exceeds 200 billion kilograms, far exceeding a reasonable level, with the characteristics of a stage of supply exceeding demand being obvious. Some main producing areas have encountered the awkward situation of being unable to purchase, unable to store, and unable to sell, and even more so the "troubles after a bumper harvest" of being unable to afford fiscal subsidies.
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Long-term trends in China's corn market look positive as industrial policy reforms keep improving
On September 17, the 8th International Corn Industry Conference, jointly held by the Dalian Commodity Exchange and the China Feed Industry Association, opened in Wuhan, Hubei Province. With the theme of innovating risk management and helping transformation and upgrading, the conference aimed to build a platform for information sharing and communication
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Lower corn prices support a rising pig-to-grain ratio, potentially squeezing room for price increases
The National Development and Reform Commission recently released data showing that the national pig-to-grain price ratio has declined somewhat. On September 30, the pig-to-grain ratio was 7.82, down 0.89% from September 23. Jiang Chao, a macro bond researcher at Haitong Securities, believes that the current pig-to-grain ratio remains around 8, far above the break-even line of 6, which
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