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2025-09-12 17:04:02
China's corn market supply and demand shifted to a more relaxed state in September. (1) Aged corn inventories continued to decline in September, while demand for livestock and feed production increased. Rotating auctions from state reserves continued to replenish market supply. (2) Grassroots grain supplies gradually bottomed out, and the market supply was generally sufficient but slightly tight. Major producing areas entered a period of transition from harvest to harvest. (3) Early spring corn entered the market in Central China, East China, and Hebei, and wheat feed use continued to increase, effectively alleviating supply constraints. (4) Combined with the replenishment from rotating auctions, bearish pressure dominated the corn market for most of September.
