Core Viewpoint - The corn futures market is experiencing fluctuations with a slight weekly increase, while external factors such as import plans from Algeria and export estimates from Brazil are influencing the supply dynamics [1][2][4]. Group 1: Market Performance - As of December 31, 2025, the main corn futures contract closed at 2226 CNY/ton, with a weekly increase of 0.82% [1]. - The weekly trading range for corn futures was between 2217 CNY/ton and 2256 CNY/ton, with a reduction in open interest by 5461 contracts compared to the previous week [1]. Group 2: Supply and Demand Dynamics - Algeria's Ministry of Agriculture plans to import 1.15 million tons of feed corn by the end of February 2026 to address domestic supply shortages and stabilize the market [2]. - Brazil's corn export volume for December is projected at 3.52 million tons, a significant decrease from the previous week's estimate of 6.35 million tons [2]. - As of December 27, Brazil's first corn planting rate reached 85.6%, up from 82% the previous week and 80.8% the same time last year [2]. Group 3: Institutional Insights - Guodu Futures notes that the quality of new grain in North China has been affected, leading to increased purchases of Northeast grain by traders and a decline in port inventories, which supports corn prices [4]. - Donghai Futures indicates that the national corn market price is stable with slight strength, while the futures market rebound provides some support to market conditions [4]. - The current market is characterized by a fierce tug-of-war between bullish and bearish sentiments, with no clear directional guidance from the fundamentals, suggesting a phase of oscillation in prices [4].
玉米市场多空博弈激烈 短期盘面或震荡运行
Jin Tou Wang·2026-01-01 01:21