One-week corn import outlook in Asia

Introduction: Chinese suppliers may limit exports Dow Jones, Singapore, July 22 news: Asian food trade insiders said on Monday that Asian buyers are expected to reduce corn purchases this week, because American corn prices have risen slightly, while cheaper Chinese corn suppliers will limit exports South Korean and Japanese buyers are not expected to make large purchases this week Only Taiwan's mlfg company has confirmed that it will hold a tender on Wednesday to purchase 56000 tons of American corn, scheduled for September A trader in Tokyo said that the US corn premium has risen, and we do not expect farmers to sell much because they feel their corn is in poor condition The CNF price of U.S feed corn shipped in August and September in Japan is 85 cents per bushel on CBOT's September corn price Last week, the price was a few cents below September corn per bushel Us feed corn is quoted at $123 per ton in South Korea, CNF, up from $120 per ton last week Traders also said that shipping rates are stable, but also give some support to prices At present, the ocean freight rate for the recent shipment from Meiwan to Japan is US $18.75 to US $19 per ton, compared with us $18.50 per ton two weeks ago As far as the forward shipment in October, November and December is concerned, the current freight is 22-23 US dollars per ton But traders say they can't count on Chinese corn supplies, even though US corn prices may rise South Korean traders say they have heard that China is reluctant to sell corn According to Beijing traders, China's corn exporters no longer sign any new export contracts because a large number of export contracts have been signed this year The export contract volume of two authorized corn exporters, Jilin grain group and China grain, oil and food import and Export Corporation, is expected to be close to the level of 8-8.5 million tons, which is far higher than the expected value of the insiders at the beginning of the year Last week, the South Korean Central Agricultural Association NACF bought 105000 tons of Chinese feed corn, with CNF prices ranging from $103.10 to $103.63 per ton, which arrived in November (author:) share to feed Weibo share to: