freevideopokercasinogames| U.S. corn shocks strongly: high import profits, low price differences between North China corn, and uncertainty exists in spot corn growth

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American corn remains strongFreevideopokercasinogamesThe upside is expected to increase after June. The profit of imported corn from abroad is high, and the price of corn in domestic ports is stable. Corn in North China has room to rebound, and the stabilization of wheat prices affects the rise of corn. Starch inventory decreased, spot prices are bullish, but the rebound space is limited. American corn can be bought on the bargain, focusing on the price difference strategy between corn and starch.

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[the US corn market fluctuates upward, and the prospect of import profits is promising] recently, the US corn market shows a narrow volatility trend, and the analysis shows that the market will remain strong in the short term.FreevideopokercasinogamesThe concussion situation. With the weather speculation in June, the price center of gravity is expected to move up, there is a further upward potential. Import data show that US corn import profits are expected to be as high as 336 yuan per tonne in June, while Brazil's import costs rose, with import prices soaring to 2179 yuan in July. As of May 9, the total export volume of US corn has reached 33.93 million tons. Although the export volume to China this week is 10 million tons, the cumulative import volume has reached 2.17 million tons, accounting for 6% of the total export volume.Freevideopokercasinogames.4%. In the Chinese market, the unwinding price of corn in northern ports has risen to nearly 2430 yuan; corn prices in southern ports are also rising, and the spot market of corn in northeast producing areas is showing a strong trend. The price of some corn in North China is slightly weaker, the spot price of corn fluctuates, and the price difference between Northeast and North China corn is low, which leads to the low price difference between North China corn and 09 corn. Given that wheat is about to come on the market and prices have begun to stabilize, the upside of the corn market remains uncertain. At the same time, 07 futures corn prices continue to maintain a narrow range of volatility, is expected to remain in a high position in the short term.

[starch market inventory decreases, prices still have room to rise] the number of deep processing vehicles in Shandong has decreased, and corn prices have remained stable. The price of starch in Shandong is basically maintained around 3020 yuan, and the spot market of starch in Northeast China is also gradually stable. According to statistics this week, corn starch stocks continued to decrease, with factory inventories falling to 1.04 million tons this week, down 7% from last week.Freevideopokercasinogames.70,000 tons, a monthly decrease of 17.2 percent, an increase of 9.8 percent over the same period last year. The future trend of starch prices will depend on the changes in corn prices and whether the downstream market can maintain the high demand before the year. In the past few years, the average by-product income is about 700 yuan, but recently the by-product began to show a strong contribution of 590 yuan, slightly lower than the average contribution in the past three years. Due to the strong performance of northeast corn and the low price difference between Shandong and northeast China, it is expected that the price of corn in Shandong will still rise in the later stage. the reduction of starch inventory and the balance of processing profits of starch factories indicate that the spot price of starch still has the potential to rise. However, due to the rising water of 07 starch, the current inventory is still high, and the rebound space is expected to be limited. The current focus of market participants includes the starch reverse sheath from July to September and the high-point reduction of the price gap between 07 corn and starch.

[trading strategy suggests buying American corn at a bargain] based on the current market analysis, the bottom of American corn has been established, the hype of weather factors continues, and the trend of strong volatility in the market is obvious. Investors are advised to continue to buy American corn at bargain prices. The rise in corn prices in Beigang today and the strong performance of corn in northeast China are all bullish signals for the market. The corn supply in North China is reduced, the spot price remains stable, the price difference between northeast corn and North China corn is still low, and the price difference between Weifang spot corn and 09 corn is in a low position, which indicates that the price of corn in North China still has room to rise. According to the historical data of the past few years, the price difference between North China corn and 09 corn is expected to be more than 100, and the narrow volatility of 07 corn today provides trading opportunities for investors. Specific trading strategies include unilateral strategy and arbitrage strategy. The unilateral strategy recommends that investors buy 07 corn at a bargain within the range of 2440-2480. Arbitrage strategy recommends that corn spot merchants in North China hold corn and sell 09 corn to continue to hold positions, while focusing on starch anti-hedging opportunities from July to September, the entry point is above-30, and the price difference between 07 corn and starch, enter around and above-420 to shrink. Please note that the above views are for reference only and do not constitute the basis for investment in the market.