Market Overview - Domestic corn futures fell by 1.36% to 2326 CNY/ton on July 7 [1] - Chicago Board of Trade (CBOT) corn futures closed down 3.7% on the same day, influenced by favorable weather conditions in U.S. corn-producing regions [1] Fundamental Summary - As of July 5, Brazil's first corn harvest rate reached 97.2%, up from 95.4% the previous week and slightly above last year's 96.8% [2] - The second corn harvest rate in Brazil was 27.7%, compared to 17% the previous week and significantly lower than last year's 61.1% [2] - The U.S. corn condition report indicated a good/excellent rate of 74% as of July 6, exceeding market expectations of 73% and up from 68% last year [2] - U.S. corn export inspection volume for the week ending July 3 was 1,491,062 tons, an increase from the revised figure of 1,380,943 tons the previous week [2] - Cumulative U.S. corn export inspections for the current marketing year reached 56,446,111 tons, compared to 43,523,109 tons during the same period last year [2] Institutional Perspectives - Everbright Futures noted a weakening market sentiment following the second corn import auction, with a basic premium of 20-40 CNY/ton [3] - Traders in producing areas are bullish in the long term but are increasingly willing to sell in the short term, leading to limited high-price transactions in demand areas [3] - The State Grain Reserve will continue corn auctions on July 8, with the September contract focusing on the support level of 2330 CNY [3] - Guotou Futures reported high transaction rates and significant premiums from recent State Grain Reserve auctions, affecting market expectations and increasing supply from local traders [3] - Inventory levels at southern and northern ports have slightly increased, indicating a softening demand side [3]
市场参拍热情较高 玉米价格交投重心持续下移
Jin Tou Wang·2025-07-08 07:53