Industry viewpoint: corn prices remain stable and weak

Corn prices remain stable and weak in July. From the perspective of the domestic corn market, the market supply is sufficient in the short term, downstream demand remains weak, temporary storage auctions continue to be light, and the phenomenon of upside down in north and south ports is serious. Corn substitutes continue to occupy the port and sales area market. In the future, there is an adequate supply of grass-roots surplus grain in the sales area, there is no gap in the market in the short term, and corn prices will remain stable and weak.

The soybean oil market due to multiple profits is not as expected. Recently, the domestic soybean oil market is in a weak state. According to data, the port soybean oil inventory has reached about 960000 tons. If the downstream demand does not improve, it is expected to break through the inventory of 1 million tons next week. In addition, the domestic South American soybean supply is not reduced, and the import volume is huge. The outer disk USDA reported limited bullish factors in July, limiting the boost to the soybean oil market; in addition, Malaysia's palm oil exports fell sharply, stocks rose, and the leader in oil failed to lead the soybean oil market out of trouble. Many negative factors make the domestic soybean oil market not as expected.