China Corn Prices Under Pressure Amid Ample Supply and Weak Demand

China's domestic corn prices remained under pressure last week due to a combination of factors. According to SunSirs, the average price of Grade 3 yellow corn decreased by 0.32% from 2,238.57 RMB/ton at the start of the week to 2,231.43 RMB/ton at the weekend.

The influx of new-season corn and policy-reserve grain into the market, along with a plentiful supply of substitutes, weighed on prices. Additionally, the ongoing reduction in hog production capacity suggests that demand for corn as feed will remain low in the near future.

While live hog prices saw an upward trend, increasing by 0.18%, and egg prices remained strong at high levels with a 2.32% rise, these gains were not enough to offset the bearish factors affecting domestic corn prices.