Corn spot continues to rise, short-term price fluctuations in the box

Internationally, US corn prices continued to decline yesterday. The CBOT Corn 05 contract fell 11 cents, or 1.53%, and closed at 705.75 cents per bushel. As the US-based commodity market suffered a heavy pressure last night, the surrounding markets began to turn cold and the US corn price was severely suppressed. In addition, on the evening of the 10th, the USDA will announce a new crop supply and demand report due to the market Uncertainty in the outlook for the market, coupled with excessively high prices of corn, has caused many investors to have a heightened fear of psychology. As a result, high positions have opened up in the market. However, from the US corn export market, South Korea’s largest feed production company purchased two ships totaling 110,000 tons of corn on Tuesday, and the Taiwan Maize Industry Procurement Association will bid up to 60,000 tons of US No. 2 yellow maize on Wednesday, East Asia The demand for dietary food has gradually been opened, which will lead to a continuous decline in US corn stocks, providing a certain degree of support for the market outlook. Overall, there is still potential for upside price growth in the US corn.

Domestically, the 1109 corn contract yesterday maintained a concussion trend, which fell by 8 yuan a day, a decrease of 0.33%, and closed at 2,429 yuan per tonne. From the perspective of market changes yesterday, a sharp upside attack in the morning and a challenge to the 2460 line failed, but due to the relatively large amount of early-phase funds such as cotton and other varieties of the larger decline in the market, the market has formed a greater pressure on the corn price From the sharp rise after the opening, there was a drop. The price stabilized at 2420 at the end of the period. However, from the spot market situation, yesterday's corn spot market once again showed a slight increase in the market, from the last three trading days, the spot price of corn has risen close to 50 yuan, the reason for this situation, mainly because the current farmers still Maintaining a pricey attitude, coupled with a similar volume of traders, the main players in the market are waiting for the large-scale corn processing enterprises in Northeast China to enter the market. From the perspective of the performance of the recent futures market, the market has already shown a certain strength. It is expected that there will be a certain degree of compensatory growth in the later period.

In terms of spot, the national spot price remained stable yesterday. The average national corn price reached 2,105 yuan per ton. The specific quotation is as follows: Harbin, Harbin, 1,900 yuan per ton of corn, Songyuan City, 1,840 yuan per ton of corn, Dalian Port, 2,120 yuan per ton of corn, Qinhuangdao, ton 2020 yuan corn, Shijiazhuang 1,860 yuan per ton of corn, Shanghai Port, 2060 yuan per ton of corn, Weifang City, 2220 yuan per ton of corn, Zhengzhou City, 1980 yuan per ton of corn, Nanning City, 2000 yuan per ton of corn, Chengdu City, 2300 yuan per ton of corn , Xi'an City, 2,000 yuan per ton of corn.

Operational suggestions, from the current spot market, corn prices have seen a certain increase in the signs, but from the 1109 contract trend of corn, the pressure from the policy, the market is in a strong turmoil, the price will still be in the last one or two transactions The status quo of breakthrough powerlessness is maintained during the day. It is expected that the concussion space will be 2400-2460. We suggest investors to maintain long-term thinking, and pay attention to the support of the 2400 front line in today's market. If the market starts to explore the 2400 line, the short-term investors can properly intervene in more than one single, 2380 first-line stop loss.