North China corn prices lack momentum for further gains

The comprehensive launch of temporary corn stockpiling purchases in Northeast China, although the purchase volume is limited, has still provided considerable support to the market, especially exerting a major influence on farmers' sentiment about selling grain, indirectly affecting short-term supply and demand and market price trends. At present, the rebound in North China has already reached a certain extent, and there is insufficient momentum for further gains. The supply pressure in Northeast China is very high; as temperatures drop later on, a large volume of high-moisture grain will come onto the market, and quality problems with grain in Heilongjiang may result in large quantities of corn not being absorbed by the temporary stockpiling program. Whether policy can be relaxed later will be an important factor affecting price trends.