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Industry point of view: corn may be weak in the north and stable in the south in the second quarter

Published: 2024-11-05 Author: mysheen
Last Updated: 2024/11/05, Corn in the second quarter may be weak in the north and stable in the south in April, after experiencing an overall obvious rise in March, the domestic corn market price showed a trend of slowing down, overall stabilization and local pullback, specifically: in early April, domestic corn rose after the Spring Festival.

Corn in the second quarter may be weak in the north and stable in the south in April, after experiencing an overall obvious rise in March, the domestic corn market price showed a trend of slowing down, overall stabilization and local pullback, specifically: in the first ten days of April, domestic corn continued to rise after the Spring Festival. In the middle and late April, under the influence of multiple factors, such as the end of the purchase of corn in temporary storage, the continuous downturn of the auction and the overall "dilemma" of market demand, the price of domestic corn market showed a "general decline" pattern.

In the face of the temporary storage corn auction peak that will kick off in May, although the northeast temporary storage corn auction will become an "important play", which will exert obvious upward pressure on the domestic market (especially in the northern producing areas), but after each regional market has reached "rebalance", the domestic corn market may be weak in the north and stable in the south in the second quarter, avoiding the risk of market shock during this period.

The oil future is expected to continue the rebound trend since mid-April, due to the basic bad digestion of oil and oil, and the decline in short-term domestic oil supply, oil futures rebounded strongly, the trend is not only stronger than adjacent soybean meal, and significantly stronger than the outer plate soybean oil and Malaysian palm oil. Looking ahead, there is still a lot of uncertainty about South American legume exports and North American soybean production, and oil is expected to continue to rebound.

 
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