Analysis of Domestic Corn Starch Production and Market Situation (11.11)

Last week (November 3-9), the domestic corn starch spot market was in a fluctuating and wait-and-see trend due to factors such as the weakening of the corn market and the slowing down of starch demand. Among them, the spot prices in the northern production areas and southern sales areas closed flat, while the weekly turnover ratio still slightly increased. According to market monitoring and statistical information from "Starch World" website, compared with the previous week, the average spot price of corn starch in China has increased by 0 yuan/ton (sampled average), and the total trading volume has increased by 0.04%. Secondly, in terms of production, stimulated by sufficient raw materials, the operating rate of corn starch factories has increased (the operating rate is about 63.0%, an increase of 4.0 percentage points compared to last week). Finally, as of the weekend, the corn starch market quotes from various regions are as follows: Harbin 2710 yuan/ton (up 0 yuan/ton compared to the previous week), Changchun 2760 yuan/ton (up 0 yuan/ton compared to the previous week), Shenyang 2800 yuan/ton (up 0 yuan/ton compared to the previous week), Qinhuangdao 2850 yuan/ton (up 0 yuan/ton compared to the previous week), Shijiazhuang 2850 yuan/ton (up 0 yuan/ton compared to the previous week), Guangzhou 2980 yuan/ton (up 0 yuan/ton compared to the previous week), Shanghai 2990 yuan/ton (up 0 yuan/ton compared to the previous week).

This week (November 10-16), it is predicted that the space for corn to fall is limited and market demand will be relatively stable. Based on comprehensive analysis, we believe that there is an 80% chance that the domestic corn starch spot market will maintain a volatile and wait-and-see trend, and the market average price (sample average price) may close flat. At the same time, the weekly turnover ratio is roughly the same.

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