BEIJING (Dow Jones)--The Chinese government's corn sales Tuesday helped support market prices, with higher volumes compared with last week. The government sold 928,300 metric tons of corn from its reserves to major producing areas in the north and the northeast, 48% of the 1.94 million tons it planned to sell. It sold 745,900 tons a week ago. The average price was CNY1,590/ton, lower than CNY1,600/ton last week. But analysts said the lower price was due to lower quality rather than higher supply. "The government sales didn't push prices lower. On the contrary they supported the cash prices by setting a floor price," said Wang Cheng, an analyst with Nanhua Futures Co. The tightening market supply also helped support prices, analysts said, adding the presence of more than 30 million tons in reserves means prices are unlikely to rise much either, since the government can increase the sales volume on higher demand. Cash corn prices in major producing areas in the week to Tuesday were mostly stable, with prices up in some areas. -Zheng Xiaolu contributed to this story, Dow Jones Newswires; 8610 6588-5848; tracy.zheng@dowjones.com
Регион | Закуп. | Изм. | Прод. | Изм. |
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ЦФО |
29800.00 | + 650 | 30000.00 | + 840 |
ПФО |
28940.00 | + 990 | 29000.00 | + 950 |
СКФО |
29450.00 | + 750 | 30000.00 | + 1050 |
ЮФО |
29250.00 | + 1100 | 29700.00 | + 750 |
СФО |
29300.00 | + 900 | 29500.00 | + 1200 |
Регион | Закуп. | Изм. | Прод. | Изм. |
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ЦФО |
72000.00 | + 1000 | 73300.00 | + 50 |
ЮФО |
69800.00 | + 0 | 74000.00 | + 0 |
ПФО |
71500.00 | + 500 | 73100.00 | + 100 |
СФО |
72500.00 | + 500 | 74900.00 | - 100 |
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