Asian corn market trading is expected to be light next week (10.16)

OA show ('918 '); trading in Asian corn market is expected to be light next week Only Taiwan is looking for one ship of Panamanian corn, while Indonesia is looking for two ships of 15000 tons of American or Chinese corn In addition, if the U.S FOB price falls after the U.S Department of Agriculture released its crop growth report later this week, Japan is also likely to enter the market Japanese businessmen expect demand for corn from Japan to remain calm next week until the U.S Department of Agriculture releases its crop growth report on Thursday Traders expect the report to give CBOT corn futures a boost, prompting farmers to sell corn to the spot market, sending FOB prices down In the early stage, because American farmers were reluctant to sell, FOB prices remained stable At present, the December shipment corn FOB price in the US Gulf is 26 cents / bushel, higher than the CBOT corn futures price In addition, the price of all U.S grain varieties rose on Wednesday due to delayed harvest due to rainfall Japanese businessmen say many traders have basically completed their shipment demand in September Expensive shipping costs are also a concern for all Japanese buyers, with one businessman saying that shipping costs (from the U.S Gulf to Japan) have decreased recently this week, while those for later shipments remain stable at around $26 / ton The freight for a Panamanian class ship from the Gulf of America to Japan on Wednesday is $25.35/ton In Southeast Asia, Malaysia has stopped buying next week due to the rising price of CBOT corn futures and the satisfaction of recent shipment demand In Indonesia, Cheil jedang's Indonesian plant on Friday sought 15000 tons of U.S or Chinese corn for January or February shipment, while another company sought 15000 tons of U.S or Chinese corn for immediate shipment At present, the local corn price in Jakarta is 950-1000 rupees per kilogram on Friday, slightly higher than 950 rupees a week ago In Thailand, local corn prices have risen to THB 4.42-4.50 per kilogram, compared with THB 4.25-4.33 last week In contrast, the U.S corn C & F in Malaysia is priced at US $112 / ton for this week's 50 month shipment, while the Chinese corn is priced at US $105-106 / ton for the same shipment South Korea's corn buying group will leave the market next week After the recent bidding, the price of corn in China is no longer as low as before, which has affected their interests SAMYANG grain and oil company and Daisan company jointly purchased 52500 tons of food corn from Cargill company through bidding on September 29, and delivered them at Busan Port from January 11 to 31 The price is determined as US Gulf 2 corn at US $110.80/ton, Argentina corn at US $108.80/ton, or South Africa yellow corn at US $110.80 On the same day, BFM also purchased 30000 tons of Chinese corn from seyang company, a grain agent in Jilin Province, China, through bidding, which was shipped to Incheon port on February 6-25 The C & F price was 99.80 USD / ton Other buyers want to buy Chinese corn ahead of time to meet their shipping needs in February and March However, due to the uncertainty of China's corn export policy, in recent bidding purchases, traders did not actively provide Chinese corn, and buyers have stopped their corn bidding Next week, Taiwan's buyers are seeking to buy at least one ship of Manama grade corn Mfig group will announce the purchase of a ship next week as some of its group members are unable to meet their October / November needs The group usually buys one or two ships of Panamax corn a month Mlfg, another major purchasing group, has exited the market because it recently purchased 56000 tons of corn to meet the demand Sugar will also remain calm next week as it is still considering whether to advance its purchase Sugar usually buys 18000-20000 tons of corn a month Among the local group needs of corn and Taiwan based on the US Gulf, sugar has met the needs of October, mlfg has met the needs of the end of November, mfig in the middle of November and Huisheng have met the needs of October China feed industry information network UeV (author:)