Asia Corn Weekly Outlook

Introduction: traders said that Japan will order corn from October to December from this week, feed corn will be purchased from the United States, and edible corn will be from the United States or China Indonesia and Taiwan may also be looking for U.S corn, while Malaysia is looking for a small batch of Thai corn for immediate shipment China: China's corn exporters are increasingly reluctant to make firm offers due to rising domestic corn prices and falling international corn prices In the past two weeks, the price of corn has risen due to the market's concern that the continuous drought will lead to the reduction of corn production Exporters find it difficult to maintain their offer at the previous target price of $102 / ton, which no longer attracts overseas buyers Local grain depots are also reluctant to sell corn to exporters, but want to sell it in the local market for higher profits Now China's two biggest exporters are targeting Japan's edible corn market, with an offer of US $112-115 per ton FOB, which comes from Jilin, Hebei and Inner Mongolia Japan: Japan began to look for corn for October to December According to traders, some companies began to look for American corn for feed last week, because last week Japan has set the price of compound feed from July to September, which is the same as that from April to June At present, the U.S corn C § f price is quoted as CBOT corn December price rising 80-85 cents Japanese businessmen are also negotiating with China because Argentina and Brazil have few corn deliveries between October and December Southeast Asia: Indonesia is looking for American corn from August to September, because American corn is the cheapest Small feed factories are also looking for some corn for July, but they mainly buy some local corn or import corn from the local market In July, at least three American ships of corn and soybean meal will arrive in Indonesia Malaysia continues to buy small quantities of Thai corn, but most corn buyers will not enter the market because domestic corn stocks are sufficient and China has not made an offer 7、 In August, 250000-300000 tons of corn are expected to arrive in Malaysia Thailand's corn in 2001 / 02 (July June) entered the harvest peak at the end of July Because the price of new corn can be cheaper than that of old corn, and China has no export, they expect to export more corn to Malaysia At present, corn prices of various countries to Malaysia are as follows: Thailand old corn 101 USD / ton FOB, America corn 106 USD / ton C § F, Argentina corn 109 USD / ton C § F Taiwan: Taiwanese buyers are calm this week They will buy at most one ship of corn So far, no major purchasing group has announced a bidding plan, but in general, one of mfig and mlfg will bid South Korea: most of the buyers have bought the corn that arrived in October The local purchasing organization will be calm this week Traders estimate that 200000 tons of corn is still needed in October, but they have enough time to observe the market changes and wait for the CBOT period price to fall further On Thursday, South Korea's food and Drug Administration (KFDA) announced that five corn processing companies used Starlink containing corn to produce corn starch products KFDA asked the South Korean government to shut down these plants for two months as a punishment After the incident, traders expect the Korean Corn Processing Industry Association (kocopia) to be more reluctant to buy American corn Kocopia is the only edible corn purchasing group in South Korea, providing corn raw materials for its seven members In port inspection, the Chinese and South Korean governments did not find Starlink corn in the imported American corn, but KFDA found it in starch products Kocopia purchased corn from the United States in April, and only South America and South Africa in June (author:) share to feed Weibo share to: