With the large number of newly-produced corn being listed, the pattern of short-term supply in the market and rising market prices were quickly changed, and the transaction price of the newly-manufactured corn market “failed”.

According to the futures daily on October 14th, "A day's price quoted, the purchase price is lowered every day, and grain is not unloaded in the car for three days. This business is done in vain, and you may even lose money." In Surabaya, Shandong In front of corn processing plants and feed companies in Shouguang, Weifang and Weifang, people have heard complaints from many corn owners from Jiangsu, Anhui, and Henan in recent days.

Thanks to the fine weather, the current pace of corn harvesting in China has accelerated, and most areas are nearing completion. With the large number of newly-produced corn coming on the market, the pattern of short supply in the previous period and rising market prices quickly changed, and the transaction price of the newly-manufactured corn market “failed”. The risk of price fluctuations faced by corn buyers and distributors everywhere has increased. Some middlemen who hold stocks and wait and see have already suffered losses. Even the small traders waiting to unload at the door of the grain-using company have also encountered the risk of falling prices.

"This year's new corn market is very special. We don't have to be careful in our operations. Only after we have a good understanding of and master the market can I act." Zhao Jianzhang, general manager of Shandong Linyi Shuangfeng Grain & Oil Wholesale Co., Ltd. Staying in the company, but did not organize large-scale acquisitions of human and material resources in the new corn season as in previous years. In many cases, this “old corn” focuses its efforts on market research and continues to run north and south, and runs everywhere. Learn about corn market information.

According to him, although the deep processing industry's procurement demand is still strong, the high price of maize is also relatively strong, and the new production capacity is considerable, while the current high profit aquaculture industry is still supporting the price of corn, but a substantial increase in production. The newly-listed corn and the newly-produced corn's plunging prices, as well as the slump in prices of surrounding commodities, have caused new corn prices to verify the market's pre-listing market expectation, which is higher and lower, and because the trend in the latter period is unknown, the market is watching and the atmosphere is strong.

Affected by the exchange rate effect, this year's northeast spring sowing maize and Huanghuaihai summer sown maize planting area increased by a large margin, coupled with weather conditions, this year's corn yield and total production increased at a higher rate, such as Shandong and other places, the increase in corn yield is generally 15%-20 %, up to 30% in some areas, last year an average yield of 900 pounds of land, most of this year in the 1100-1200 pounds. At present, different market institutions are constantly increasing China's total corn production this year. The lower is to increase output by 5 to 6 million tons, and the higher is to increase output by 8 to 10 million tons. In addition, before the end of September, due to the fact that the price of wheat was much lower than the price of corn, the substitution effect of wheat on corn was obvious, and there were institutionally conservative estimates of 6 million tons of substitution. Under the influence of many factors, the new corn price is still estimated to be weak.

As of yesterday, the purchase price of new corn in most parts of Shandong has dropped to 2,300 yuan / ton (moisture 17% -19%, Maoliang); the purchase price of new corn in most areas in Henan has slipped to 2060 yuan / ton (moisture 17% - 18%, Maoliang); The transaction price of corn in the northeastern production areas and the southern coastal sales areas also continues to fall. Wang Welfare, deputy director of the State Grain Storage Banking Business in the eastern suburbs of Zibo, Shandong, said that there is still a possibility that the purchase price of corn will continue to decline, and it is expected to fall below 2200 yuan/ton.