SunSirs: China's Corn Prices Fell from a High Level in March, and will continue to fall in April

1. China's corn price trend

The price of corn rose and fell back in March. The average price of third-class yellow corn was 2887.14 yuan/ton on March 1, and the average price on March 31 was 2831.43 yuan/ton, down 1.93% during the month.

2. Market Analysis

Entering March, deep-processing enterprises will resume work in full after the year. With the support of rigid demand, deep-processing enterprises will continue to increase prices and replenish warehouses, driving the domestic corn market prices to continue to operate stably in the first half of March.

In mid-March, the temperature in the Northeast production area gradually picked up, coupled with the increasing willingness of farmers to sell grain during the spring sowing season, the main body of the grain storage trade was reluctant to sell at a low price, and the corn market supply increased slightly. As the downstream deep processing enterprises' inventory was replenished to some extent, some Manufacturers have slightly lowered the purchase price of corn, driving the domestic corn market price to rise and fall slightly. The price of corn has risen and fallen, and the main bodies of grain storage trade have gone out of the warehouse to realize their cash. In addition, a large amount of imported corn has entered the domestic market.

In March, domestic live pigs fell sharply and dropped by 8.22% during the month. The price of eggs fluctuated forward. During the month, the price of eggs rose slightly by 0.13%. The market for aquaculture fell as a whole, and the profit margin for breeding continued to shrink. The enthusiasm of pig farmers for replenishment declined, and the price of pigs The decline has induced farmers to sell slaughtered pigs, and the demand for corn feed will decline in the future.

3. Market outlook forecast

SunSirs corn product analysts believe that in the short term, under a lot of negative pressure, it is expected that the domestic corn market price will still have some room to fall. It is expected that the domestic corn market price in April will fall to around 2,700 yuan/ton.

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