According to the National Grain Trade Center, the grain (corn) auction of Heilongjiang Province was just concluded this morning with a bleak result.
30,000 tons of corn produced in 2017 was planned to be auctioned, but the actual volume oftransaction is only 800 tons with a transaction rateof only 2.66%and an average transaction price of only 1,680 yuan/ton.
It is reported that Heilongjiang Province started its first auction of this year on January 30th, at which it planned to auction 10,000 tons of grain (corn) produced in 2017 and finally sold4, 000 tons with a transaction rate of 40% and an average transaction price of 1780 yuan/ton. On February 1st, it put 30,000 tons of corn on the auction market.
Before this auction, eight corn auctions had beenconductedin total for Shanxi Province, Inner Mongolia Province, Jilin Province, Beijing and Liaoning Province with a total release of 267,652 tons, an actual transactionvolume of 165,533 tons and an average transaction rate of 62.3%. From the transaction results, we can see the first transaction is good, but the second oneis poor. Especially at the auctions conducted on January 26th, both the transaction rateof Beijing and that of Shanxi Province were relatively low, which had something to do with the approaching of the Spring Festival and the decline in market demand.