According to the Commodity Market Analysis System of SunSirs, domestic corn prices continued to decline last week. The average price of yellow corn in the third class at the beginning of the week was 2,328.57 RMB/ton, and the average price over the weekend was 2,322.86 RMB/ton, a decrease of 0.25%.

As the temperature gradually rises, the difficulty of storing corn has increased. In addition, a large amount of imported corn has arrived at the port to supplement domestic market demand, and the intention of grain trading entities in production areas to liquidate their exports continues to increase. The overall supply of domestic corn market continues to be loose, while the breeding industry market remains low. Deep processing enterprises have relatively sufficient corn inventory, and the pressure of strong supply and weak demand in the domestic corn market remains weak. The overall pressure on domestic corn market prices is weak.

Last week, domestic egg prices were weak at the bottom, falling by 1.30% during the week, while pig prices fluctuated and rose by 0.20% during the week. Overall, the domestic breeding industry continued to operate at a low level, and under the pressure of strong market supply and weak demand, the enthusiasm of farmers to replenish their pens remained sluggish. The overall recovery space for corn feed demand in the future is limited.

The corn product analyst from SunSirs believes that in the short term, the domestic corn market supply will continue to maintain a relatively loose situation, and the domestic corn market prices will continue to be under pressure, stable, and weak.

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