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Last night,CornFutures are near strong and very weak, and the 2301 main contract is temporarily trading at 2878 yuan, a slight increase of 0.28% from the previous trading day.
From the point of view of the external market, Anliang Futures stressed that Russia’s resumption of the implementation of the agreement on the export of agricultural products to the Black Sea port will help increase supply in the international market. strikes resurfaced and the market was under pressure.
From the point of view of the domestic market, Meierya Futures pointed out that according to data from the National Grain Center, as of November 15, the overall progress of grain sales in northeast China was 12%, or 3 percentage points lower compared to the same period last year. It is understood that the grain quality in northeast China is better this year, and the superimposed planting cost has increased significantly. Growers are generally optimistic about the sale, and the current high temperature is not conducive to threshing. As a result, the periodic increase is still lower than expected, pushing up the periodic price of corn.
According to Guodu Futures’ analysis, domestic and foreign corn production this year has been damaged, and merchants are actively hoarding goods, resulting in slow progress in the launch of new grains, and the current supply-side pressure is relatively reduced. In terms of demand, driven by the profit of the downstream farm, the demand for feed has performed well.
Looking forward to the market outlook, Founder Mid-term Futures said that external prices and plant costs form the main support for domestic futures prices, while concentrated supply also constitutes periodic pressure on futures prices. overall futures maintains a range judgment, but the path of price fluctuations must pay attention to changes in downstream consumption expectations and stock performance. The 01 Corn contract may continue to fluctuate in the near term and we are advised to go back to wait and see in terms of how it works.
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