Corn prices remain stable but weak, industry views and interpretation

Corn prices remain stable but weak Entering July, from the perspective of the large domestic corn market, short-term market supply is sufficient, downstream demand remains weak, temporary storage auctions continue to be sluggish, the north-south port price inversion is severe, and corn substitutes continue to capture ports and sales area markets. Looking ahead, grassroots surplus grain supply in sales areas is sufficient, there is no short-term market gap, and corn prices will remain stable but weak.

Multiple bearish factors chill the soybean oil market Recently, the domestic soybean oil market is in a weak state. According to statistics, port soybean oil inventories have reached about 960,000 tons. If downstream demand does not improve, inventories are expected to exceed 1 million tons next week. In addition, domestic South American soybean supply remains undiminished, with imports huge. In the external market, the July USDA report offers limited bullish factors, and support for the soybean oil market is restricted; in addition, Malaysia's palm oil exports have fallen sharply and inventories have risen, and the leader among oils has failed to lead the soybean oil market out of difficulty. Many bearish factors have chilled the domestic soybean oil market.