Asia Corn Weekly Outlook

OA show ('918 '); [Asian corn week outlook] Asian traders said Friday that South Korea and Taiwan will probably buy as many as three ships of corn next week for shipment by Panamanian class freighters, but despite Thursday's sharp fall in the price of corn on the Chicago Mercantile Exchange, corn procurement in other Asian countries is still limited According to a source from the Korea Corn Processing Industry Association (kocopia), if the price of CBOT corn continues to fall, kocopia may buy corn from one or two Panamanian class freighters (105000 tons) next week, with unlimited sources, with a shipment date of April South Korea's feed corn purchasing groups, including South Korea's NACF and South Korea's Feed Association (KFA), have no plans to buy corn in the coming week because they would rather wait for China's export policy to settle Said a source close to the two corn purchasing groups The source said that the feed corn buyer has completed the purchase of corn as far as the mid March shipment KFA bought 52000 tons of corn from unlimited sources on January 5, with a shipping period from February to March The CNF price of Chinese corn is US $111.40 per ton, and that of American corn is US $116.40 per ton Earlier this week, NACF also bought 52500 tons of Chinese corn at a tender meeting, with a CNF price of $111.75 per ton between February 20 and March 20 Taiwanese buyers are expected to buy at least one shipment of corn in the week before the Spring Festival, according to people familiar with the situation A manager linked to mfig and mlfg said mfig expects to buy corn from a Panamanian freighter for March Although mlfg just bought 57000 tons of US corn on Thursday, according to the manager, as long as the price is attractive, the group is still likely to further expand its purchases next week Taiwan's sugar company bought 20000 tons of US corn earlier this week than expected, and is expected to leave the market as it has completed its purchase of corn for February Taiwan's sugar industry buys about 20000 tons of corn a month Among the local purchasing groups based on the U.S Gulf shipment, the corn purchased by Taiwan sugar industry can be used up to the middle of February, mlfg can be used up to the beginning of March, mfig can be used up to the end of February, and Huisheng can be used up to January Japanese traders said they would buy little corn this week, as the time span for Japanese traders to wait for delays in US corn transportation became clearer Because of the freezing of rivers in the United States, it is difficult to transport grain In addition, Japanese traders are also waiting for the Chinese government to make a decision on this year's corn export policy Although the vast majority of Japanese trading companies still need to purchase 50-60% of the total corn needed in March, traders say they would like to wait another two weeks before making purchases At present, the FOB market price of corn shipment in March in the United States is 95-100 cents per bushel on CBOT corn shipment price in March However, the difference between the two prices is very large, which depends on which grain warehouse different shippers can ship in and how much is affected by the delay of shipment due to river ice According to another well-informed person, Japanese starch manufacturers are keen to purchase corn from South Africa because there is no Starlink problem, but transportation problems in South Africa mean that corn from April to June is not available International Trade Company Andre genfood recently ordered a shipment of corn, which was loaded from Durban port, South Africa, and shipped to Japan from January 15 to 23 This is reported by qiaoxun earlier In terms of feed corn, the source said that Japan is interested in purchasing Argentine corn From April to June, local trading companies have started to sell the corn from feed manufacturers Argentine corn is expected to be available at a price of $10 per ton less than US corn shipped in the US Gulf Jilin grain group of China is confident that the Chinese government will not only maintain the original export subsidy policy this year, but also maintain the level of corn export subsidy at the same level as last year Therefore, Jilin grain group is continuing to negotiate the export of corn in March This is the news from a well-informed person of Jiliang group COFCO is also one of two companies authorized by the Chinese government to export corn However, the market is still waiting for the Chinese government to confirm its export subsidy policy At present, Jiliang and COFCO, another corn exporter, remain silent about this and do not provide corn exports for the 2001 shipment That's what traders say Although the USDA's agricultural supply and demand report released on Thursday said that China would export 4 million tons of corn in 2000 / 01 (October to September next year), Chinese grain traders and analysts believe that considering that China's corn exports from October to February 2001 were nearly 3 million tons, China's corn exports are expected to be more than the USDA predicted Traders in Southeast Asia said they expect a limited amount of corn to be purchased in Southeast Asia next week, with buyers in Indonesia and Thailand currently looking for cheaper local corn On the Malaysian side, buyers began to buy corn from March onwards, but they said they would wait to see if China would return to positive export sales in the past Traders said there had been few deals in the past week due to the high price of corn abroad and the continued silence of two Chinese corn exporters On the Indonesian side, buyers there continue to have little movement, as local corn harvesting is underway, local supply is abundant, and the weakening Indonesian currency against the US dollar is also a factor Considering the high price of imported corn, Indonesia's processing plants are currently totally dependent on the local supply of corn Indonesia is not expected to resume importing corn until April, when local corn harvesting is over On Friday, China's CNF in Indonesia quoted us $119.40 per ton, the US $124.50 per ton and Argentina $122.50 per ton That's what traders say On the Thai side, traders said Thailand does not expect to import corn in the short term because the local corn price in Thailand is lower than the imported corn price 45k China feed industry information network 45k (author:)