Guangdong intended planting area grows; Prices update; Futures drift sideways

Intended planting area in Guangdong grows on larger rice acreage

The total intended planting area in Guangdong province in southern China increases slightly in 2023 thanks to an effort to increase rice planting in the region while the planting area for other crops remained stable year on year.

According to a recent survey, the overall planting area for rice, corn, soybeans, and other oilseeds is estimated at 15.44 million mu (1.03 million hectares) this year, up nearly 180,000 mu (12,000 hectares) compared to 2022.

The planting area for rice crops grew 60,000 mu (4,000 hectares) to 13.03 million mu (869,000 hectares).

Meanwhile, corn and soybean planting areas within the province were largely unchanged at 1.07 million mu and 330,000 mu respectively.

Livestock and feed prices update

Futures drift sideways due to holidays at origin markets

Agricultural futures in China had a quiet session on Tuesday as traders stayed on the side-line due to public holidays in the US and Brazil, the two main soybean and corn exporting countries to China.

Futures mostly flatlined by market close on Tuesday except for live hog futures on the Dalian Commodity Exchange (DCE) that rallied more than 1% on the day after the government confirmed the first batch of state-backed pork purchases on Monday.

Futures close