According to the Commodity Market Analysis System of SunSirs, domestic corn prices continued to decline weakly last week. At the beginning of the week, the average price of third class yellow corn was 2,544.29 RMB/ton, and the average price over the weekend was 2,491.43 RMB/ton, a decrease of 2.08%.

With the gradual easing of the impact of rainy and snowy weather, the market volume of corn in production areas continues to increase. In addition, a large amount of imported corn continues to arrive at the port, and the mentality of grain trading entities to hold back prices has loosened. The intention to sell out has increased. Downstream deep processing enterprises have relatively sufficient corn inventory, and overall procurement is cautious. The breeding industry market continues to be sluggish, and the demand for corn feed continues to be weak. The pressure of strong market supply and weak demand remains unchanged. This week, the domestic corn market price continues to be under pressure and downward.

Last week, domestic egg prices fell significantly, with a 6.02% drop within the week. Pig prices fluctuated and continued to rise, with a 0.62% increase. The breeding industry remained at a low level, and the overall situation of pig farming was still in a loss making state. The enthusiasm of farmers to replenish their pens continued to be sluggish, and there was limited room for a rebound in demand for corn feed in the future.

SunSirs corn product analysts believe that in the short term, the problem of strong supply and weak demand in the domestic corn market will be difficult to alleviate, and the domestic corn market prices will continue to operate under pressure.

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