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 2,311.43 RMB/ton, and the average price over the weekend was 2,320.00 RMB/ton, an increase of 0.37% during the week.

In mid May, the overall price of corn in the Northeast production area remained stable. Due to the listing of new wheat in some regions, trading entities shifted their focus to new wheat trade, which led to a continuous decline in corn arrivals. In addition, supported by the reduction of circulating surplus grain at the grassroots level, deep processing enterprises in Shandong, North China and other regions increased prices and replenished inventory, driving the continuous rebound of corn market prices. The overall price of domestic corn market is relatively strong.

Last week, domestic eggs continued to rise, with a 4.16% increase during the week. The price of live pigs was relatively strong, with a 2.01% increase during the week. The breeding industry market slightly rebounded, and the profit margin for breeding increased, which will provide some support for the domestic demand for corn feed.

The corn product analyst from SunSirs believes that in the short term, with the support of enterprise price hikes and replenishment, there is still some room for price recovery in the domestic corn market. Overall, the supply and demand of the domestic corn market remain stable in the short term, with imported corn and its substitutes arriving in Hong Kong one after another. Downstream demand for corn continues to be weak, and the price of Linchi's new season wheat opens low and moves low. The long short game results in a lack of momentum for domestic corn prices to continue rising in the future.

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