classicvideopokerfreeonline| Cargill's corn purchase price is raised: North China corn prices are bullish amid fluctuations

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Spot corn prices continue to riseclassicvideopokerfreeonline, reduced supply drives bullish sentiment in the market, and the futures market also shows a positive trend. Surplus grain is tight in North China, and traders are reluctant to sell. Domestic and foreign corn production and imports are still the key to affecting prices.

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The corn spot market ushered in a new round of gains In the past week, corn spot prices continued to rebound, the increase expanded, and the market showed bullish sentiment.

The decrease in surplus grain has pushed the progress of grain sales to the same level as last year. The supply of grain sources in the market has tightened. Some companies have increased their willingness to purchase, and prices have continued to rise. Spring sowing and spring planting were carried out in an orderly manner. Rising futures and purchases of China Grain Reserves supported the rise in corn prices. However, the increase in Shandong caused prices to fall slightly over the weekend.

The surplus corn grain in Northeast China has bottomed out, grassroots circulation has decreased, farmers have firm prices, and traders have increased their enthusiasm for purchasing. Direct warehouses continue to acquire, and competitive procurement is active. Songyuan Cargill and Fuel Ethanol have increased their purchase prices. Port inventories have declined and prices have increased.

Corn prices in North China rose first and then fell, and overall still increased slightly. Surplus grain decreased, traders 'reluctance to sell increased, bullish sentiment increased, and prices rose. The speculation of reducing production of new wheat has stopped prices falling and rebounded, which has promoted corn prices.

Corn prices in North China continued to fall in April, but market sentiment improved significantly after the latter half of the year. Bargain-hunting demand increased and prices rose. Corn prices are expected to continue to rise in the future. As surplus grains bottom out, imports will decrease and demand will continue to increase.

Continuous U.S. corn contracts fell 3.5 percent last weekclassicvideopokerfreeonline.36%, but the domestic corn sheet continued to rise. The 2407 contract rose 0.24%, and the 2409 contract rose 0.49%, breaking through the 2500 mark and setting a new high for the year.

China's corn imports increased year-on-year. From January to April 2024, the import volume was 9.08 million tons, a year-on-year increase of 6.5%, exceeding the import quota of 7.2 million tons for five consecutive years. Imports increased by 17.6% year-on-year in April and fell month-on-month. Imports of corn this year are expected to decrease by more than 4 million tons compared with last year.

Brazil's corn production is expected to be 111.6 million tons, a year-on-year decrease of 15.4%. In the first 10 months of May, Brazil's corn exports increased significantly year-on-year. Ukraine's grain exports fell year-on-year, with more grains shipped through the port of Odessa. The U.S. Department of Agriculture cut its South American corn production forecast, and U.S. corn export sales increased, but shipments fell.

After the Spring Festival, the corn market was affected by policy acquisitions and had obvious regionalization characteristics. Corn prices fell back in April, but changes varied in different regions. Since May, surplus grain has decreased, corn has been supplied less, prices have rebounded, and bullish sentiment in the futures market has warmed up.

In the futures market, the corn 2407 contract rose slightly, while the increase in the 2409 contract widened, breaking through 2500 in intraday trading. The market expects corn prices to continue to rise, surplus grains will decrease, imported corn will decrease, wheat prices will rise, and market sentiment will change.

To sum up, the supply in the corn market is tightening, demand continues to be consumed, the market's bullish mentality is increasing, and there is still the possibility of a rebound and rise in the future. Investors are advised to pay attention to the support situation and buy on dips.