Corn prices are expected to maintain a strong and volatile trend before the end of the year

Yesterday's corn futures prices fluctuated, and on the supply side, after the announcement of the increase in storage by China Grain Reserves Corporation, the market's bullish sentiment has recovered. Traders' willingness to build medium - and long-term warehouses has increased, and their enthusiasm for storing grain has significantly improved, resulting in active market purchasing and sales. On the demand side, downstream deep processing and feed enterprises have basically completed pre year stocking, mainly focusing on order pickup and rolling replenishment, with low demand. Next week, the corn market will gradually become sluggish, with a focus on the progress of new grain sales, national policy development, and storage dynamics. It is expected that corn prices will maintain a strong and volatile trend before the new year.

In terms of futures, the corn 2505 contract closed at 2272 yuan/ton yesterday, a decrease of -5 yuan/ton from the previous day, with a magnitude of -0.22%; The contract for corn starch 2503 is 2532 yuan/ton, a decrease of -11 yuan/ton from the previous day, with a magnitude of -0.43%. In terms of spot goods, the spot price of corn in Liaoning region is 2060 yuan/ton, a change of -10 yuan/ton from the previous day, and the spot basis is C05-142, a change of -5 from the previous day; The spot price of corn starch in Jilin region is 2530 yuan/ton, with a change of 0 yuan/ton compared to the previous day. The spot basis is CS03+-2, with a change of 11 yuan compared to the previous day.

According to recent market information, the US Department of Agriculture's Export Inspection Weekly Report shows that as of the week ending January 16th, the inspection volume of US wheat exports was 262000 tons, a decrease of 13% compared to the previous week's 299000 tons, and a decrease of 17% compared to the same period last year's 315000 tons. So far, the inspection volume of US wheat exports in 2024/25 has been 13.279 million tons, a year-on-year increase of 23.8%.