Asian corn week Outlook: South Korea will enter the market, Japan's purchase intention is not

Introduction: in this week's Asian corn market, South Korea and Taiwan are expected to buy two ships of corn respectively, while Japan's purchase intention is not strong The Philippines invited bids on Friday to buy American corn Here are some details of each country: China: China will slow down its corn export sales after selling 3 million tons of corn in the previous week's bidding The specific quantity of corn sold in the previous week's bidding hasn't been announced Some traders think that the quantity of 3 million tons is too large, which exceeds the actual demand of Asian market for China's corn, so it is estimated that China has sold up to 2 million tons of corn At least 300000 tonnes of corn sold in the previous week was sold to Malaysia According to the latest figures released by the Chinese customs, China exported 510000 tons of corn in July According to the estimation of the source, the corn export volume in August is between 100000 and 200000 tons, and some contracts in August may be delayed to September South Korea: this week, South Korea may buy two ships of corn from different places of origin One ship is purchased by NACF, and it will arrive at the end of November and the beginning of December The quantity is not determined The buyer of the other ship is KFA, 55000 tons, and it will arrive around January 10 next year KFA last week bid for two ships of corn, but only one ship was sold, so this week it will re bid for another ship of corn Last week, a shipment of corn was purchased through Cargill, with optional producing areas The price of corn in the United States or South America is 108.85 US dollars / ton, and that in China is 105.85 US dollars / ton Taiwan: traders say that if the price of corn falls, Taiwanese buyers may enter the market to buy one or two ships of corn On Wednesday, Great Wall group, Taiwan's largest agricultural and livestock company, bought 46000 tons of US corn, which was delivered in late October, while another group is expected to buy US corn delivered at the same time State owned Taiwanese sugar companies will also resume buying after weeks of waiting Japan: Japan will slow down its purchase this week Traders expect that CBOT corn price will fall further after the Asian market turns its demand to China In addition, Japan has purchased 70% of the corn shipped between October and December, so they are not eager to buy at present At present, the U.S corn C § f offer is 92-93 cents higher than the CBOT December price As the Japanese government plans to modify the genetically modified content standard of feed, Japan's interest in corn purchase in the United States will increase Southeast Asia: Indonesia's interest in buying corn is still low this week, due to the abundant supply of corn in China and the low price of corn, while the price of corn in the United States is rising The previous week, a European trading company purchased 6000 tons of Thai corn to be shipped to Indonesia, with a transaction price of US $102-103 / ton FOB Malaysia will not enter the market this week after buying a lot of Chinese corn the previous week According to businessmen, a Malaysian company and a Singaporean company bought 150000 tons of Chinese corn respectively in the previous week's bidding, and the destination was Malaysia, with a transaction price of 105 US dollars / ton FOB Another Asian trading company is also said to have sold 175000 tons of Chinese corn to Malaysia The Philippine feed processing industry association is looking for 10235 tons of American corn for shipment in early October.