Category: Commentary

Wheat harvest nears 65% complete As of June 8, China’s harvest of wheat was 64.6% complete. Anhui is basically complete, Henan is over 95%, Jiangsu is over 70%, Shandong is over 30%, Shaanxi is nearly 30%, and Hebei and Shanxi are over 10%. The weather outlook remains positive for the remainder of the harvest. On… Continue reading Wheat harvest; stockpiling corruption; futures recap

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Price Update Protein Price Update Futures Recap Markets were generally lower today. Sinograin announced that it would auction 150k tons of imported corn on June 5. This isn’t a large amount and seems to be a one-off auction, but it has come at a time when the market is already weighing bearish factors such as… Continue reading Price updates; futures recap

Wheat harvest progresses quickly As of June 3, China’s wheat harvest progress was at 42.2%. Progress in Anhui exceeded 80%, Henan is over 60%, Jiangsu is nearly 30%, Shaanxi and Shandong are over 10%, and Shanxi has started harvesting. Futures Recap…   Subscriber content: Sitonia Consulting provides market intelligence on Chinese agricultural markets. For a… Continue reading Wheat harvest; futures recap

Subway station wheat harvest and land dispute cases With wheat harvest ongoing in Henan, an unusual story of planting wheat around a station of Zhengzhou’s metro system has received a large amount of attention. The station was approved in March 2019 and began operations in December 2024. Originally, the areas around the stations were grass… Continue reading Subway wheat; rice auctions; futures recap

Corn auctions see increase in purchased volume Over the past week, Sinograin held 14 auctions of corn with a listed volume of 128.6k tons. 33.3k tons, or 25.9%, were purchased by the market. There were 18 rounds of corn purchased with a volume of 353.9 tons. 334.3k tons, or 97.3%, were purchased. There were 12… Continue reading Corn auctions; soybean shipments; planting progress; futures recap

Production Maps With the USDA removing its production maps, I’ve updated some for corn, soybeans, and wheat. These are for 2024 as the National Bureau of Statistics has not released the province-level crop data yet. Corn production is primarily centered in the northeast and Inner Mongolia, but there is also sizeable production in northern China… Continue reading Production maps; futures recap

Protein Price Update Most prices were higher this week, with eggs up 2.4% and now up 8.9% year on year. Egg prices are close to going above 10 yuan per KG, and haven’t been at this level since February 2025. Historical data and charts at https://sitoniaconsulting.com/protein-price-update/ Spread Update The inverse in Dalian Sept/Jan corn is… Continue reading Protein price; spread update; futures recap

Shuanghui subsidiary pork exceeded antibiotic levels by 37x Heilongjiang’s market supervision regulator reported that some pork products from Wangkui Shuanghui Beidahuang Food exceeded standards for residual antibiotics by 37.5x. Following the news, the company’s stock price fell by 5% on Tuesday before recovering slightly and rising by 0.65% on Wednesday. The company is 75% owned… Continue reading Pork testing; futures recap

Rice auction results In the national auctions of minimum-price reserve rice on Tuesday, 601k tons were listed, with 50.4k tons purchased by the market. The average price was down slightly to 2606 yuan per ton. Jilin stockpiling official expelled over corruption charges Sun Haoming, the former deputy director of the Jilin Province Grain and Materials… Continue reading Rice auctions; corruption investigation; futures recap