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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.