High-priced corn storage market ushered in the "2" era

On August 17th, with the approval of the relevant state authorities, 379,600 tons of corn (including central reserves) were temporarily stored in the grain sale market in Anhui Province and its online market (Heilongjiang, Jilin, Liaoning, and Inner Mongolia). The actual turnover was 313,400 tons. The transaction rate was 78.82%. A prominent feature of this corn bidding transaction was that the number of bidding transactions decreased drastically and was more than 600,000 tons lower than the latest bidding transaction. In terms of specific transaction details, the 2006 corn plan traded 26,100 tons. The average transaction price was 1,727 yuan/ton, which was 67 yuan/ton higher than that of the latest auction transaction; in 2007, corn was planned to trade 64,000 tons, and all transactions were completed. The average transaction price was 1,769 yuan/ton, which was 83 yuan more than the latest auction transaction. t; 2008 corn program trading 113,200 tons, the actual turnover of 92,900 tons, the turnover rate of 82.06%, the average transaction price of 1748 yuan / ton, compared with the latest auction transaction increased by 63 yuan / ton; 2009 corn plan transaction 943,300 tons, The actual turnover of 130,400 tons, the turnover rate of 67.11%, the average transaction price of 1,759 yuan / ton, compared with the latest bid transaction rose 104 yuan / ton.

"The sharp increase in corn prices for this auction transaction was mainly due to the significant decrease in the number of auction transactions." He Lin, a South China Futures agricultural products analyst, said that since the country launched the Pro Reserve corn auction transaction in July 2009 and launched the State Reserve corn auction transaction at the end of June this year. Since then, the country has taken nearly 20 million tons of corn supply market to meet the market demand. Correspondingly, the domestic corn market prices have steadily increased, mainly due to continuous drought and production cuts in domestic corn in 2009/2010. The demand for corn in the feed industry remains rigid, due to the imbalance in supply and demand in the domestic corn market.

Affected by this high transaction price, yesterday's corn futures January and May futures contracts opened higher and closed higher and closed at 1999 points and 2045 points, respectively, up 7 yuan and 11 yuan per ton, and the price was in close touch with historical highs. The price of futures market corn contracts, in addition to the January contract next year, all other trading contracts reached the 2,000 yuan mark, the corn market will usher in a real "2" era.

According to the reporter of the Futures Daily, in addition to the steady increase in corn prices in the futures market, the prices of second-class corn mainstream closures in ports such as Dalian and Jinzhou also rose to over 2,000 yuan per ton. Yesterday, high-quality corn flats in Dalian and other ports were quoted in 2010. -2020 yuan / ton, compared with the last weekend rose 10-20 yuan / ton, the actual price of goods to take the cabin down 2,000 yuan / ton, has reached a new high spot price point history.

In response, Long Jiuming, a person in charge of a large local spot trading company in Dalian, told the Futures Daily reporter: “The number of auction transactions has been greatly reduced, which has led the market to believe that the country’s corn resources are close to exhaustion, and that the country will face no food. In early September in Huanghuai corn market, unless the country imports large quantities of corn, otherwise the domestic corn market will lack effective supply channels, and the supply and demand situation of corn will further tighten.

Yu Bing, head of China Hualiang Logistics Group Beiliang Co., Ltd., believes that a large number of imported corn is the only way to alleviate the current domestic shortage of corn. Otherwise, before the new corn is listed, the national market regulation will be greatly weakened, and the domestic corn market price remains It is likely to rise further.

According to the reporter of the Futures Daily, on August 27th Shenzhen Shekou Port will have a cargo ship loaded with 60,000 tons of imported corn, and in September there will be 3 ships carrying imported corn.

Long Jiuming believes that increasing imports of corn have begun to supply the South Asian market, which is of positive significance to meet the increasingly tense supply and demand situation in China. However, for the 2010/2011 domestic corn market price trend, Long Jiuming stated that the current domestic corn market price When the new corn is listed in the next year, the price of domestic corn is unlikely to fall. On the one hand, the country will supplement the corn of the State Reserve in 2010/2011, which will increase the market demand for corn; on the other hand, Jilin, etc. in the northeast in the near future. Continuous rainstorms and floods in the main corn producing areas have a certain impact on the corn production this year. The corn production in the next year is not optimistic.