More grain will be auctioned in the second half of the year, but it will have less impact on the market

Introduction: according to foreign power, traders said on Friday that since July, China has held grain auctions in a row It is expected that more grain will be auctioned in the future, but the price of spot grain is not expected to fall from the current level, because the market is still worried about the decline of grain output and inventory this year XUL China's grain output in 2003 is expected to reach 388 million tons, 10 million tons lower than that in 2002, because farmers have less wheat and corn planting area this year, and the bad winter weather is expected to lead to a decline in per unit yield According to a trader at XUL COFCO, wheat production has fallen this year, with the quality of wheat inferior to last year So in the long run, wheat prices will rebound and may continue into 2004 In fact, food auctions may have a positive impact on domestic food market prices, according to some XUL traders In most auctions, the price of grain in the old season was higher than expected, reflecting tight domestic supply and demand, the trader said What's more, the government will purchase new season grain to replenish the storehouse in the future In addition, the reduction of national grain storage also brings potential support to the market, so although more grain will be auctioned, the price of grain will not fall significantly Recently, grain auctions have been held in different parts of China, part of the government's efforts to rotate the old season grain inventory to the distribution system to make room for new season grain harvested in autumn XUL ☆ grain auction has little impact on the price, because the sales target is not expected to be completed, according to XUL traders, the Chinese government plans to sell 15 million tons of grain stocks in the central reserve in 2003, so as to make room for the new season grain However, this sales target may not be achieved, as the auction will only start in the second half of the year XUL insiders expect China to sell 7.5 million tons of grain this year, only half of the target In July, the government sold 172529 tons of old wheat and 75000 tons of new wheat at an auction in Jiangsu Province On July 24, 19000 tons of Chen wheat were sold at an auction in Tianjin Later in July, China held an auction in Beijing, selling 120000 tons of old corn and 60000 tons of old wheat from the central reserve Then, a second auction was held in Jiangsu Province on July 30 and 31, at which 158000 tons of old wheat were sold, with a price range of 840-980 yuan / ton In the first week of August, China sold 50000 tons of old wheat at an auction in Chongqing and 250000 tons of old corn at an auction in Heilongjiang According to a senior trader of a grain trading company in XUL Henan Province, there was no grain auction in the first half of 2003 The biggest reason was the outbreak of SARS, which was also the reason why so many auctions were held in July and August There will be more auctions in the coming weeks as the government wants to reduce its stocks of grain On Thursday and Friday, Jilin Province held an auction to sell 1.083 million tons of old grain, including wheat and corn In addition, China plans to hold an auction in Inner Mongolia on August 20 to sell 105000 tons of old corn XuL