Corn prices mixed, soybean meal may see a big move next week
[Corn Price Daily Report]
Zhinongtong APP Hangqingbao data shows: on August 12, corn prices across the country were mixed, with fluctuations of 20-40 yuan/tonne. The main gains were concentrated in parts of North China and the Huang-Huai region, while corn transaction prices at some southern ports continued to decline. In Heilongjiang, the loading price of local rotation corn remained stable at 1530-1650 yuan/tonne; in Jilin, policy grain circulation dominated, with corn prices stable at 1630-1740 yuan/tonne; corn purchase prices in Hebei, Shaanxi, Anhui and Shanxi continued to hold steady; corn prices in parts of Shandong and Henan rose slightly by 20 yuan/tonne, with corn prices in higher-priced areas of Henan at 1840 yuan/tonne, and deep-processing enterprises in parts of Shandong continued to raise purchase prices by 20 yuan/tonne; corn transaction prices at northern ports such as Dalian and Bayuquan remained stable at 1800-1830 yuan/tonne; corn transaction prices at Jiangsu and Shanghai ports fell by 20-40 yuan/tonne; inland corn arrival prices in Jiangsu stopped falling and stabilised; second-grade corn arrival prices in northwest Sichuan fell to 2030-2100 yuan/tonne.
Recently, corn prices in North China, the Huang-Huai region and other areas were the first to rise, mainly due to the scarcity of high-quality grain sources and the increased purchasing enthusiasm of grain-using enterprises. However, with the successive release of policy reserves and the new corn crop in various regions also entering the marketing period in the coming months, the future trend of corn prices is hard to view optimistically. The recent stockpiling by enterprises and the holiday effect may drive a periodic rebound in corn prices.
[Soybean Meal Price Daily Report]
Zhinongtong APP Hangqingbao data shows: on August 12, soybean meal prices across the country were stable in many places, with fluctuations of 10-20 yuan/tonne in some areas. In Shandong, quotations from mainstream oil mills remained stable at 3030-3140 yuan/tonne; in parts of Jiangsu, oil mill quotations were slightly lowered by 20 yuan/tonne; Zhejiang and Shanghai remained stable at 3150-3200 yuan/tonne; Guangdong and Guangxi saw slight declines of 10-20 yuan/tonne in some areas; soybean meal prices in individual areas of Fujian fell by 10 yuan/tonne; quotations in the Beijing-Tianjin-Hebei region were stable, with a price range of 3100-3150 yuan/tonne; Jilin and Liaoning continued to hold steady; soybean meal prices in Henan, Shanxi, Shaanxi, Hunan and Jiangxi were all flat compared with yesterday; some areas of Anhui fell by 20 yuan/tonne; Hebei saw both rises and falls; local traders in Yunnan raised soybean meal selling prices by 10 yuan/tonne.
The USDA August supply and demand report is about to be released. Ahead of it, both US soybeans and China's soybean meal prices maintained narrow fluctuations. The market expects the report to be bearish, but the impact may be released in advance, and soybean meal prices may continue to fluctuate next week. Hangqingbao suggests that buyers continue to maintain safe inventory levels and not be overly