China may further restrict corn export supply

Introduction: Recently, some analysts believe that China may further restrict the export and supply of corn, and may import some corn In addition to the uncertainty of China's corn supply, the strong demand for various raw materials in China has led to a surge in shipping rates, adding to market concerns At present, shipping rates from China to Malaysia are quoted at US $22 to US $25 per ton, compared with us $7 to US $8 a year ago 'no boats, no business, that's what it is now,' said one trader at AGD The high price of corn and shipping costs make buyers wait-and-see How long can this last The sharp rise in shipping costs has resulted in the CIF price of Chinese corn arriving in Malaysia exceeding $155 per ton Malaysia, which has been buying at $120 a ton for the past few months, has struggled to adjust its price The rise in corn prices will begin to affect feed prices On Tuesday, corn futures on the Chicago Board of trade (CBOT) closed mostly higher, supported by price comparison effects from technical aspects and the sharp rise in soybean futures Corn in December ended up 5 cents at 240.25 cents per bushel The market is still technologically strong The December corn contract closed 13.75 cents higher than the 100 day average of 226.5 cents AGD, a Malaysian trader, said that if it had to purchase corn from Argentina or the United States, the price could be $160 per ton, CNF Kuala Lumpur traders added that domestic corn supply in Malaysia would be tight in the coming months as some importers made forward purchases But some of the cargo contracted before the recent rally will arrive in Malaysia in December AGD's first trader said he thinks the market is in a mess now, which could last until China starts offering corn offers for next year's shipping date AGd