There is a long way to go to keep the inventory of corn.

[China Agricultural Machinery Industry News] The corn storage and acquisition policy that lasted for 9 years has finally come to a successful conclusion. The total amount of acquisitions in 2015/2016 reached 125 million tons, and destocking has been emphasized this year. The cancellation of corn storage, the task of corn destocking is even more arduous.
There is a long way to go to keep the inventory of corn.
From the local situation in the northeast, the spot market purchase and sales situation is not prosperous overall, the stocks of traders have been sold out, the market grain source mainly comes from rotation, the price is in the range of about 1,700 yuan / ton, the recent rotation of Jilin corn The price has been lowered from 1,750 yuan / ton to 1,680 yuan / ton, if the purchase volume is large, there are concessions.
In the North China market, due to the end of the Northeastern Reserve Acquisition, the outflow of grain sources has been significantly hindered, and traders in some regions have temporarily stopped collecting. Some deep-processing enterprises are bullish in the market, and the willingness to dump goods has appeared to some extent.
For starch companies, current demand is relatively stable. There is not much corn left in the spot market in North China. The demand for corn stocks by grain companies mainly depends on the rotation of grain sources. Judging from the situation in the southern sales area, the grain source is still mainly from the North China spot and rotation corn, the latter. In terms of rotation, the supply of corn has increased, and the geographical advantage is more obvious. In order to meet the needs of local enterprises, the rotation of grain and market spot supply will be synchronized, and the corn price in the later sales area will be stable.
From the situation of downstream corn starch, after the “May 1st” holiday, the price of Hebei starch enterprises was slightly raised to 2,180 yuan / ton. With the tightening of surplus grain in the North China corn market, the price at the bottom of the spot gradually became obvious, and the future trend is still basically It is a box shock. At present, the profit of corn starch processing has improved slightly. The level of start-up of enterprises in Northeast China has gradually increased, and the spot price has remained basically stable. The ex-factory price of starch in North China is expected to be close to 2,100 yuan/ton, and the price in northeast is lower. With the correction of the price of corn out of the warehouse, the fall in starch prices is inevitable. In terms of starch sugar, there will be a peak consumption in the past summer, but the characteristics of the peak season in recent years have made the peak boosting effect not obvious.
In terms of alcohol consumption, because the standard of alcohol for food is not high, poor grain sources can also be used as raw materials. With the coming of destocking, the cost of grain will be lowered, and the cost reduction will drive the industry to start higher. This makes the downward pressure on alcohol prices obvious. At present, the operating rate of alcohol enterprises in Northeast China is relatively low, and the overall operating rate in North China is not high. The South China side is affected by the downstream demand and the impact of imports. The overall downturn remains. In summary, from the overall situation of the corn industry chain, the overall demand for downstream is not smooth, and the volume of supply is a foregone conclusion, just a matter of time rhythm. Under such fundamental conditions, unless there is a large-scale speculation of funds, it is recommended to watch more corn carefully.

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