Corn prices in sales areas remain stable, with market buying and selling relatively quiet

Corn prices in sales areas stable with quiet buying and selling Currently, the overall buying and selling in corn sales area markets is quiet, with quotations mainly stable and slight rises and falls in some areas. Affected by the temporary reserve auction and the North Port's higher-price purchasing, corn from Northeast China has seen quotations in sales areas rise by 10 yuan/ton; in North China, due to emptying warehouses to collect wheat, short-term market supply is ample, and arrival prices in sales areas are mostly stable, but in some areas of Henan, due to grain quality issues, quotations in sales areas have fallen by 40 yuan/ton compared with the beginning of the month. At present, the use of substitute grains has increased noticeably, but recent market rumors that the state will strengthen ongoing and post-event supervision of imported grain and epidemic monitoring may have a certain impact on imported substitute grains.

Soybeans strong domestically and weak abroad, soybean meal oscillating lower Recently, soybean trends on domestic and foreign exchanges have run counter to each other. Over about a month, the cumulative gain of the main Dalian soybean futures contract exceeded 10%, while Chicago soybean futures prices fell repeatedly, with the main contract dropping about 5.64% cumulatively and breaking through last September's low. Analysts believe that the recent acceleration of the decline in U.S. soybeans is mainly due to stable U.S. soybean planting progress, ample global supply and a rising dollar, while factors such as reduced domestic soybean planting area and tight supply have supported the rise in the domestic market. However, under pressure from global soybean supply tending toward looseness, accelerated arrivals of imported soybeans and still-weak downstream demand, domestic soybean meal may oscillate lower.