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On the 15th, the national average price of corn generally rose slightly, with some areas continuing to fluctuate.

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On the 15th, the national average corn price showed an overall slight upward trend; some local areas continued to fluctuate, and the number of areas with volatility increased, resulting in more overall gains than losses. In major domestic producing areas, grass-roots remaining grain has largely bottomed out. Supported by the cost of building storage, traders maintained a price-supporting mentality. Market liquidity remains relatively tight, and enterprises have clearly raised their purchase prices. However, policy-driven grain source releases, along with the substitution effect from alternative products, have still exerted some downward pressure on corn demand. With multiple factors offsetting each other and compounding, it is more likely that, during most of June, the spot trading prices of corn in producing areas will continue to maintain a stable trend of narrow fluctuations that are slightly weak overall. In the second half of the month, the downward trend is likely to slow down, shift from “stop the fall and stabilize” to “turn up,” and the chance that the June monthly average price will continue to decline month-on-month remains relatively high. Due to the pressure from the new-season wheat coming to market, pay attention to weather conditions during the harvesting and drying period in northern major wheat-producing areas. Also monitor the impact of storage and purchasing by storage enterprises after the new-season wheat market is launched, and pay attention to the progress of China Grain Reserves Corporation’s rotation storage and purchasing. (Feed Industry Information Network)
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