China Corn Prices Tipped for Further Decline as New Crop Arrivals Increase

Corn prices in China may see downward pressure as new crop arrivals are expected to increase in volumes, particularly in North China where the harvest is set to peak towards the end of September.

The average corn price in China stood at around CNY 2,240/t at the end of August, down about CNY 10/t from the beginning of the month.

Weak demand and competition from alternative feed grains like wheat, rice, and sorghum are also adding pressure to corn prices. Analysts expect corn prices in some markets to decline by CNY 20-40/t in September, with a monthly average forecast at around CNY 2,225/t.

Further price movements will depend on the pace of new-crop arrivals and crop quality.