4hw.com.cn: last week, corn and corn starch prices fluctuated and fell, while corn prices in the spot market rose first and then fell, and corn starch prices fluctuated slightly. What's the matter? Let's listen to Xiaobian's analysis.
The price of corn has plummeted! It's up to you!
The sale of COFCO corn is not good. Hunan COFCO plans to auction 14800 tons of corn, all of which will be sold on stream. Shanxi COFCO plans to auction 20000 tons of corn, with a 10% transaction rate. Close to the market, it is said that a large number of temporary storage corn auction time, traders' enthusiasm for shipping increased, corn volume increased, and deep processing enterprises are more cautious in purchasing. On Friday, Heilongjiang announced the subsidy policy for deep processing and feed enterprises, with the subsidy amount of 150 yuan / ton from March 23 to April 30.
The price of corn is still high, the production cost of starch enterprises is high, and the processing profit of starch enterprises in most regions continues to be in a loss state. Last week, the startup rate was 78.33%, up 0.78% compared with 77.55% of the previous week. Starch enterprises continued to rise in startup. The demand for downstream starch was in the off-season. Downstream enterprises were cautious in purchasing. High price starch orders were limited. The total inventory of corn starch was 660600 tons, up 2.21% compared with 646300 tons of the previous week. Starch inventory continued to rise.
Future prospects and strategic suggestions
At present, the stock of New Maize in grass-roots level is relatively small, with 20% in Northeast and 30% in North China. Moreover, the grain quality in North China is deviated, and the supply of high-quality new maize is tight. In the downstream, the demand for breeding industry and starch is in the off-season, the price of pigs continues to fall, the farmers' enthusiasm for fence filling is poor, and the demand for feed is weak. Driven by the subsidy policies, the demand for deep processing and feed corn may increase in the near future. However, due to the small amount of subsidy, the processing profits of the subsidized deep processing enterprises barely break even, resulting in the demand for subsidy Limited. In the policy sensitive period before the auction of a large amount of State Reserve corn, the market mentality is more cautious. It is expected that corn prices will be mainly adjusted by shocks in the near future. It is suggested to wait and see for the time being.
Starch enterprises have a high start-up rate, sufficient starch supply, rising inventory, low downstream demand, cautious procurement of downstream enterprises, limited transaction of high price orders. Before a large number of State Reserve corn auctions, the price of corn is still at a high level, and the cost of starch production is high, which forms a certain support for the bottom of starch price. It is expected that the price of corn starch will fluctuate weakly in the near future Wait and see, for reference only.