According to the Commodity Market Analysis System of SunSirs, domestic corn prices fluctuated strongly last week, with an average price of 2,252.86 RMB/ton for third grade yellow corn at the beginning of the week and 2,260.00 RMB/ton over the weekend, a slight increase of 0.32%.
Entering mid January, downstream enterprises gradually entered the pre year stocking stage, slightly raising corn purchase prices to stimulate arrivals, while corn purchase prices in port areas rose slightly. At the end of the year, the willingness of grassroots trading entities in production areas to ship corn has become stronger, and the rotation of reserve grain has continued to increase. The supply of corn in the domestic market has slightly rebounded. The corn market is in a long short game, with domestic corn market prices fluctuating strongly throughout the week.
Last week, domestic egg prices rebounded significantly, with an 8.14% increase during the week. Pig prices were relatively strong, with a 0.94% increase during the week. The domestic aquaculture market has improved, but due to the current reduction in domestic aquaculture production capacity, the overall demand for corn feed in the future lacks momentum.
According to the corn product analyst at SunSirs, as the end of the year approaches, trading entities in production areas have increased their intention to cash out of inventory, imported corn continues to be auctioned off, and the domestic corn market supply has slightly increased. With the end of downstream stocking, the price increase in the domestic corn market will once again stabilize.
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