Market Review - The main corn futures contract rose by 0.65% to 2177 CNY/ton in the last trading session [1] Fundamental Summary - The Buenos Aires Grain Exchange reported that corn planting in Argentina's main agricultural areas is advancing rapidly before the arrival of storms this weekend. The storms are expected to pause local crop planting. The exchange forecasts that the corn planting area for the 2025/26 season will be 7.8 million hectares (19.3 million acres), marking the second-highest planting area in the country's history [2] - The USDA reported that private exporters sold 110,000 tons of corn to Mexico for delivery in the 2025/2026 season [2] - According to a report from the grain trade association Coceral, the EU and UK corn production for 2025 is expected to be 56.7 million tons, down from the June estimate of 60.6 million tons [2] Institutional Views - Nanhua Futures noted that new corn is gradually being listed in regions such as Liaoning and eastern Heilongjiang. In North China, new corn is starting to be listed in Henan and Shandong, with a large volume expected to begin by the end of September. The corn prices in the sales area are temporarily stable, driven by essential stock replenishment. Nanhua's view is that the market will continue to show weakness as new grain is gradually listed [3] - Everbright Futures indicated that technically, the November corn contract has been in a downward trend for nearly a week since encountering resistance in early September. The market is currently focused on whether the January contract can break through the price lows formed in mid-August. In the short term, the November contract's short positions are reducing, and caution is advised regarding potential rebounds after sharp price declines. The mid-term strategy continues to favor short positions [3]
多地新粮陆续上市 玉米盘面中期延续空头思路
Jin Tou Wang·2025-09-19 06:12