Yesterday, the MOA Market Early Warning Expert Committee released Analysis of Supply and Demand Situation of the Agricultural Products in China in April 2019.
　　In the analysis, it is pointed out that, even if there is the influence of African swine fever epidemic, the corn market is more promising. Contrary to corn, the soybean market is still not optimistic this year due to high global soybean production and large stocks in the United States.

To sum up: Corn is safe this year, but soybean prices will still be very low!

Corn Price Rises

After the Spring Festival, the purchase and sale of the corn in the northeast region became more and more active as the local and national governments successively started reserve purchases of corn. At the end of March, the sales progress of the corn by the farmers in the northeast region reached 85%, and there was not much surplus grain left at the bases level. Corn prices gradually stabilized after a continuous decline. It is estimated that, the average wholesale price in the domestic corn producing areas in 2018/19 will be in the range of 1,750 - 1,850 yuan/ton, up from the forecast value of the last month, which was raised to 50 yuan/ton. 

Soybean Market Continues to Depress

According to this month’s forecast, the production, consumption, trade and price of the soybean in china in 2018/19 remain identical with the last month forecast. on the domestic front, the northeast region is approaching spring ploughing and farmers willingness to sell beans has increased, but soybean demand has not improved significantly and prices are running smoothly (Note: Stable is low). Internationally, South American soybeans are on the market one after the another. U.S. Soybean stocks are at an all-time high. Global soybean supply is sufficient. International soybean prices are not supported.