终端需求疲软 玉米期货缺乏持续向上驱动

Group 1: Market Overview - As of December 20, Brazil's corn planting rate reached 82%, up from 77.5% the previous week and slightly higher than last year's 77.9% [1] - Brazil's cumulative corn shipments for December amounted to 4.4256 million tons, an increase from 4.2659 million tons in December of the previous year, with an average daily shipment of 295,000 tons, representing a 45.24% increase compared to last December [1] - The U.S. corn export inspection volume for the week ending December 18 was 1,744,088 tons, up from a revised 1,604,831 tons the previous week, with a cumulative total of 24,267,114 tons for the current crop year, compared to 14,481,411 tons in the same period last year [1] Group 2: Industry Insights - According to Guodu Futures, the recent rebound in corn prices was driven by the quality issues in new grain from North China, leading traders and downstream enterprises to actively purchase Northeast grain, while port inventories declined [2] - Everbright Futures noted that while prices in Northeast production areas are relatively high, transaction activity is subdued, with a balanced supply-demand situation and slow selling progress among farmers compared to last year [3] - The overall demand from downstream enterprises remains weak, with many focusing on fulfilling previous orders rather than signing new contracts, and some companies are beginning to prepare for the upcoming Spring Festival [3]