Corn inventory has accumulated in the ports of North and South China, and transactions have decreased slightly

In November, the corn collection volume at northern ports was about 5.765 million tons, an increase of 1.7 million tons from October and a month on month increase of 41.82%. In November, a large number of new grain products from Northeast China began to be launched, with a peak period of rising demand for trendy grain products. Due to the slightly later harvest and listing period of new grain this year compared to previous years, higher temperatures compared to previous years, and difficulty in storing moisture in wet grain, grassroots growers are more active in selling. The probability of new corn overheating and mold growth has increased due to weather factors, resulting in a decline in grain quality. The sentiment of drying towers and trading entities building warehouses is low, and the purchase standards of feed and deep processing enterprises have been raised. The overall market supply is saturated, mainly flowing into deep processing enterprises and port areas. The port volume in November has significantly increased, with an average morning arrival volume of no less than 40000 tons.

In November, the corn clearance volume in northern ports was about 3.77 million tons, an increase of 1.08 million tons from October and a month on month increase of 40.15%. In the first half of November, the profit of north-south shipping at the port was good, and the trade profit continued to rise, with a large volume of shipments at a higher year-on-year rate and dense shipping schedules. However, in the second half of the month, the profit of north-south shipping has partially turned upside down, and the amount of corn waiting to be loaded is still relatively high. Traders mostly execute orders and contracts, and continue to operate at a high level. The highest weekly port clearance volume during the month reached 1.01 million tons.

In November, the corn inventory in the four northern ports totaled 4.1 million tons, an increase of 2.16 million tons or 111.34% from the end of last month. In November, prices in Northeast China continued to decline, with a faster pace of grain sales at the grassroots level and an increase in circulating grain sources. The arrival volume at northern ports remained at a high level, and inventory continued to accumulate. In November, the corn collection volume at Beigang exceeded the shipment volume, and the port inventory rapidly increased, reaching a historical high level since 2018.

In November, the arrival volume of corn at Guangdong ports was about 1.87 million tons, an increase of 630000 tons from October and a month on month increase of 50.81%. In November, with the rapid increase of corn inventory in Beigang, logistics transportation gradually eased, and orders for contracted grain arrived at the port one after another, the amount of goods received at the port also increased rapidly.

The corn cargo volume at Guangdong ports in November was about 1.2 million tons, an increase of 40000 tons from October and a month on month increase of 3.45%. The rapid increase in port arrivals in November has led to an increase in demand for domestic corn by feed enterprises. Contracts are generally signed in mid to early December, with sufficient mid to long term orders. However, the arrival of new grain toxins in mid to late December is unstable, and feed enterprises maintain their essential procurement. Market trading activity is low, with early contracts being the main focus, and the speed of goods delivery in the port has slowed down compared to the previous period.

As of the end of November, the domestic corn inventory in Guangdong Port was 780000 tons, and the foreign corn inventory was 35000 tons. The total corn inventory was 815000 tons, an increase of 617000 tons from the end of last month and a month on month increase of 211.62%. The port arrival volume has increased rapidly within the month, and downstream enterprises have accelerated their delivery speed. However, in the middle and late stages of the month, the delivery speed has shown a downward trend. Feed enterprises maintain their essential procurement, and the market trading activity is low. The execution of early contracts is the main focus, and port inventory is gradually accumulating.