Industry View: Domestic Corn Prices Weaken

Last week (September 25 - October 9), domestic corn prices generally fell, North China continued to seek a bottom, and Northeast China saw scattered opening of purchases. Northern ports fell sharply, while southern ports consolidated at low levels. Looking ahead, corn in Northeast China has not yet been listed in large quantities, and there are few purchasing entities, so prices are expected to continue falling later. In North China, because of the recent large declines, the pace of the corn price drop has slowed slightly in the past few days, and a wait-and-see mentality in the market has risen slightly, but before the pressure from Northeast grain listings gradually strengthens and temporary storage purchases have yet to begin, North China corn prices are still expected to continue weakening.