25.
01.17
14:57

China will start another camp program for corn?

Courses of the Maisfutures in China rise this month by 3%, because there are rumors, that traders in the Centre of the grain belt preparing for a camp program, to support the farmers.
The State enterprise of Sinograin should buy on allegedly corn after the new year in the northeast of the Empire up to 10 million tons. The new year's Festival lasts a week and starts next Friday. 10 million tonnes of maize are around 5% of the annual consumption of Chinese.
If the rumor should be confirmed, it stands in stark contradiction to the abolition of the intervention program last spring. It was intended that the corn prices now to focus for more than a decade on the free market. There were also subsidies for corn processing industry to build the large State stocks in China.
The bullish sentiment on the futures market ensured that the contract stock for corn at the Dalian Exchange rose to an all-time high. These are 45% more than in the last year. Rising prices have feared that China's pig fatteners give more sorghum and barley in the feed mixtures. Analysts have already warned that corn prices again come after the new year under pressure, when the demand for corn due to high prices declining. In their barns, farmers must also make room for the next harvest.
Analysts from the State grain traders COFCO stress that the policy is clearly to recognize that no further government intervention stocks should be created.
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