corn starch market notes

Domestic spot market price of corn starch is stable and relatively strong. Under the support of cost and operation pressure, deep-processing enterprises in North China are more reluctant to sell corn starch at fixed price and intend to raise corn starch price to be transferred to the downstream. However, the downstream market is relatively resistant to price increase, and demand still has some resistance to price increase of corn starch. At present, the upstream and downstream market is in a stalemate game, with wide price fluctuation adjustment as the main reason. The price of corn in northeast China is still dominated by the above trend. In order to relieve the increasing cost pressure, major enterprises have successively raised the transaction price of corn starch, and the market as a whole has a strong favorable atmosphere.

In terms of raw corn: the continuous increase of corn purchase price by deep processing enterprises in northeast China over the weekend still provides significant support to the market, and the price in northeast production areas is running at a high level. The market's acceptance of high-priced corn is moderate, and the continuously rising price has also made traders in the producing areas a little more cautious in receiving corn, expecting short-term price or high consolidation.

The overall price of corn in North China remained stable over the weekend, the market purchase and sale maintained a relative balance, and the range price remained stable. Some enterprises adjusted the price within a narrow range according to their own arrival quantity. At present, there is no trend change, and the price remains high and stable.
Afternoon forecast: we believe that the short-term cost of support will prevail, corn starch spot market price is expected to maintain a stable trend. However, the slow flow of goods in the downstream market makes the pressure on manufacturers' inventories rise, and the weakness of terminal demand may limit the rise in spot prices.