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Corn price falls accelerate at Chinese state auctions


Prices at weekly auctions of corn from Chinese state stockpiles are easing back. But for how long?


At the latest auction, on Thursday, prices fell for a second successive event, and at an increasing pace, of 2.3%.


The fall expands a picture of easing values evident on the Dalian futures market too, where the best-traded January 2020-21 contract closed at 2,223 yuan a tonne, down from an intraday high of 2,289 yuan a tonne set on July 27.


However, just when it seemed that pressure over Chinese supply tightness might be easing...


The January contract recovered on Friday, closing up 2.0% at 2,272 yuan a tonne, its best ever finish. Does this herald a further leg higher in prices, and a revival in values at auction too?



Crop sales for 2020-21
Date of auction Crop on offer (tonnes)
Proportion of crop on offer sold Price per tonne (yuan)
August 13 3,993,954 100% 1,959
August 6 3,993,954 100% 2,005
July 30 4,014,334 100% 2,037
July 23 3,974,163 100% 2,017
July 16 4,026,026 100% 1,950
July 9 3,970,072 100% 1,899
July 2 4,099,101 100% 1,879
June 24 3,988,237 100% 1,871
June 18 3,980,692 100% 1,885
June 11 3,942,683 100% 1,818
June 4 3,974,739 99.9% 1,795
May 28 3,992,526 100% 1,766





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