According to the commodity market analysis system of SunSirs, the domestic corn price slightly rebounded last week. At the beginning of the week, the average price of third class yellow corn was 2,295.71 RMB/ton, and the average price over the weekend was 2,310.00 RMB/ton, with a weekly increase of 0.62%.

Entering May, the supply and demand of corn in the Northeast production area remained stable, and the overall price of corn remained stable. As the domestic corn market supply gradually decreased, supported by a decrease in corn arrivals in some regions, ports and downstream deep processing enterprises slightly increased their corn purchase prices last week, leading to a slight rebound in domestic corn market prices.

Last week, domestic egg prices rebounded slightly, with a 3.21% increase during the week. Pig prices fluctuated and remained stable throughout the week. Overall, the breeding industry is still operating at a low level, and the enthusiasm of farmers to replenish their pens continues to be sluggish. There is limited room for an overall rebound in demand for corn feed in the future.

SunSirs corn product analyst believes that overall, downstream demand for corn continues to be sluggish, imported corn and its substitutes continue to arrive in Hong Kong, and the domestic corn market supply is still relatively loose. It is expected that the overall price recovery space in the domestic corn market is limited.

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