According to the Commodity Market Analysis System of SunSirs, domestic corn prices continued to be weak last week. The average price of yellow corn in the third class at the beginning of the week was 2,318.57 RMB/ton, and the average price over the weekend was 2,312.86 RMB/ton, a decrease of 0.25% during the week.

Entering mid April, farmers in the Northeast production area are busy with soil moisture, and the market volume of corn has decreased. The overall price of corn in the production area is weak and tends to stabilize. Affected by the continuous rise in gas temperature, the market volume of corn in North China continues to increase. After the corn inventory of deep processing enterprises has been effectively replenished, the purchase price of corn has been lowered again, driving the domestic corn market price to continue to be under pressure and operate weakly.

Last week, domestic egg prices fluctuated weakly, falling 0.43% within the week, while pig prices fluctuated weakly, falling 0.60% within the week. The further decline in the breeding industry market will to some extent suppress the rebound in demand for corn feed in the future.

SunSirs corn product analyst at SunSirs, believes that in the short term, the domestic corn market will continue to maintain a strong supply and weak demand situation. Supported by a gradual decrease in surplus grain at the grassroots level, the decline in the domestic corn market is expected to ease, and the overall situation will be slightly volatile at the current level.

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