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On the 8th, the national average price of corn generally showed a clear upward trend, with some local areas experiencing slight fluctuations.

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On the 8th, the national average corn price rose clearly overall, with localized areas seeing slight fluctuations and more regions experiencing volatility, with the overall pattern favoring more gains than losses. The domestic Central Reserve Grain’s storage and procurement volumes increased significantly, regional effective corn supply decreased, and as the market’s circulating volume continued to decline, the replenishment needs of grain-using enterprises helped prices stop falling and rebound. However, as more alternative grain sources become available, the room for short-term price increases is limited. With multiple factors offsetting and compounding each other, it is more likely that during the first half of June, most of the time, spot trading prices of corn in production areas will generally trade in a narrow range with a somewhat weaker trend. The likelihood of prices stopping their decline and gradually turning upward in the second half of the month is increasing. From June to August, the probability that prices will generally trend stronger is gradually increasing, though the upside is limited. The likelihood that the monthly average price in June continues to fall month-on-month remains relatively high, due to the downward pressure from the new season’s wheat listing. Pay attention to the impact of the opening price level after the new season’s wheat is listed on corn price trends, and also the weather conditions during the harvest period in major northern wheat-producing areas. (Feed Industry Information Network)
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