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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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Joint national grain inventory spot-check work was launched in 2015
A reporter recently learned from the National Grain Administration that the National Development and Reform Commission, the National Grain Administration, the Ministry of Finance, the Agricultural Development Bank of China and other departments recently launched the 2015 joint departmental spot-check of the national grain inventory inspection. The various spot-check working groups set out for the relevant provinces on the 26th.
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Pork and chicken prices are worlds apart, and the difference in inventory is the main reason
In June, the agricultural by-product market saw more declines than gains, while pork prices stood out alone; affected by increased consumption during the Dragon Boat Festival, the average national live pig ex-farm price rose for 15 consecutive days, with a cumulative increase of 3.7%, and on Monday this week it firmly held the 7.55 yuan/jin mark. In contrast, chicken
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Corn inventories continue to be drawn down, and the choppy market will persist
In terms of quotes from major regions, as of June 19, prices in Dalian, Jinzhou, Changchun, Weifang and Shekou stood at 2,410 yuan/tonne, 2,400 yuan/tonne, 2,380 yuan/tonne, 2,400 yuan/tonne and 2,480 yuan/tonne respectively, with changes from the previous week of 0 yuan/tonne, 0 yuan/tonne, 0 yuan/tonne, +10 yuan/tonne and -
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Corn port stocks recently in short supply
Current port corn stocks are insufficient to meet demand. As of August 23, stocks at the four northern ports stood at 2.401 million tonnes; after excluding temporary state reserves, imported and futures corn, the volume available for trade circulation in port stocks was 350,000 tonnes. Among the trade-circulating port stocks, the quantity of high-quality
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Corn stocks exceed 200 million tons, and the corn purchase and storage mechanism will undergo major changes
Reporters from Economic Information Daily recently interviewed several experts and learned that China's state corn reserves have accounted for more than half of the global total, with huge stockpiles waiting to be consumed. In order to cope with the nearly astronomical carryover corn stocks, China will reform and improve
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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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China's grain inventory hits a new high, National Grain Administration releases latest data
According to the website of the National Grain Administration, the Grain Administration issued a notice on October 8, requiring that the 2015 autumn grain purchase and autumn safe grain storage work be effectively carried out. The notice shows that provincial-level grain administrative departments and the branches of Sinograin should jointly organize
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Mounting Inventory Makes Stored Grain Hard to Sell, 100 Billion Jin of New Grain Urgently Needs Placement
Right now is an important transition period in the grain circulation sector, as the summer grain purchase wraps up and the autumn grain purchase begins, but many places have recently run into grain storage difficulties. On October 8, the State Administration of Grain issued a notice, using two "unprecedented" phrases to describe the current grain storage situation:
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Grain prices too low hurt farmers again, with low grain prices and piled-up stockpiles the main causes
China had a bumper grain harvest this year, but farmers are hardly happy, because the sharp drop in grain prices could send their incomes plunging. Since the start of autumn, corn and wheat prices in the main grain-producing areas have all fallen to varying degrees. The drop in corn prices has been especially pronounced, with farm-gate prices falling by an average of
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