Market Overview - As of October 31, the Dalian Commodity Exchange reported 12,504 corn starch futures warehouse receipts, unchanged from the previous trading day [1] - National corn processing volume for the week of October 23-29 was 597,300 tons, an increase of 23,300 tons from the previous week [1] - Weekly corn starch production reached 304,500 tons, up 16,800 tons from the prior week, with an operating rate of 58.86%, reflecting a 3.25% increase [1] - The top 20 futures companies held a total of 157,000 long positions and 215,800 short positions in corn starch, resulting in a long-to-short ratio of 0.73 and a net position decrease of 2,454 contracts [1] Industry Insights - According to Guangzhou Futures, the recent fluctuation in the starch-corn price spread is attributed to two main factors: the reduction of industry inventory and improved corn quality concerns in North China following rainfall, suggesting that the deep processing corn purchase prices may gradually align with feed corn prices [2] - As new season corn supply increases, the pressure on raw corn supply is rising, leading to a decline in corn starch cost support. Additionally, the competitive advantage of cassava starch continues to squeeze the demand for corn starch [3] - Despite the ongoing low operating rates compared to previous years, recent good sales performance has led to a slight decrease in corporate inventory. As of October 29, total corn starch inventory across enterprises was 1,128,000 tons, down 12,000 tons week-on-week, with a weekly decline of 1.05% and a monthly decline of 0.97%, but a year-on-year increase of 36.89% [3] - The market for starch is expected to fluctuate in tandem with the corn market, with a short-term outlook of cautious observation [3]
行业库存再度去化 玉米淀粉随玉米市场同步震荡
Jin Tou Wang·2025-11-03 08:04