Author: Darin Friedrichs

At the end of last week, the price of whole hog carcasses at Beijing’s Xinfadi wholesale market was 12.90 yuan per KG, down 4.8% on the week, down 16.8% over the past month, and down 25.2% over the past year. This is the lowest average price at the market since May 2018. Demand from the… Continue reading Hog prices fall to lowest level since before African Swine Fever

For the upcoming national reserve wheat auction, Sinograin has increased the volume to 500k tons, up from 300k tons previously. It has also loosened rules on participation. Since Sinograin restarted the auctions this year, the four auctions in January had listed volumes of 200k tons each week. The amount purchased was relatively strong, with 70%… Continue reading Sinograin increases volume for wheat auctions; changes participation rules

Guangdong province announced that the hog:corn price ratio in the province had now reached the First-Level warning range for excessive decline. The hog:corn price ratio is monitored by the government as a measure of excessive rises or declines in hog prices, and the financial state of hog operations. In Guandong, this has reached 4.67:1, which… Continue reading Hog price fall and corn rally triggers government warnings

Due to volatility in the fertilizer markets, domestic urea producers said they are strengthening their coordination and “strictly implementing” requirements to stabilize prices, ensure supply, and are prioritizing the domestic market. One news report from the Chinese outlet Cailin quotes an executive saying, “We are now mainly focused on ensuring the domestic market; this is… Continue reading Government and SOEs crack down on fertilizer speculation

Wheat conditions improved slightly over the past week but remain down sharply compared to last year. In Henan, the amount rated the best, or Class 1, fell by 2% to 34%. The amount rated as weak, or Class 3, fell by 3% to 36%. Shandong province saw more improvement, with Class 1 rising from 16%… Continue reading Wheat conditions improve slightly; but lagging last year

This week saw consumer inflation hit 1.3% in February, the highest since January 2023. Corn and wheat prices continued to rise, and the national wheat auction saw 100% of the volume sold. Changes to balance sheets from both the USDA and the Chinese Ministry of Agriculture were minimal. Markets, especially oilseeds, meals, and oil, were… Continue reading Weekly Summary and Outlook – March 9-13

The average purchase price of wheat in Hubei province was up 2 yuan per ton over the past week, although the provincial stockpiling agency notes that prices at flour millers are up about 10-20 yuan per ton. Corn prices in northern Hubei are now above 2500 yuan per ton, up 40-60 yuan per ton since… Continue reading Corn and wheat prices stronger in central China

Wednesday’s national auction of wheat reserve auction saw 300.7k tons of wheat listed for sale, and 100% of this was purchased by the market. The average price was 2403 yuan per ton, up 39 yuan per ton compared to last week’s auction. The highest price was 2500 yuan per ton, a new high for this… Continue reading Wheat auction sees prices sharply higher and all wheat purchased