Sunsirs: Price of Corn Starch in the Chinese Market Continued to be Weak Last Week (7.19-7.23)

　　1. Corn starch price

　　Last week, the price of domestic corn starch continued to decline. The average price of primary corn starch at the beginning of the week was 3320.00 yuan / ton, and the average price at the weekend was 3203.33 yuan / ton, down 3.51% during the week.

　　2. Market analysis

　　In July, the auction of imported corn from the State Reserve continued to cool down, a large number of imported substitute grains arrived in Hong Kong, the main body of domestic grain storage trade was realized out of the warehouse, and the deep-processing enterprises comprehensively reduced the purchase price of corn. Under the pressure of comprehensive bad news, the domestic corn market price fell comprehensively. Corn prices continued to be weak, the wait-and-see attitude of the downstream trade subjects of corn starch continued to increase, the peak season of the starch industry was more obvious, and under the dual pressure of cost and demand, corn starch manufacturers reduced the ex factory price of starch one after another, driving the domestic corn starch market price down sharply.

　　3. Future forecast

　　The cost of raw materials continues to decline, the downstream demand continues to be weak, and the domestic corn starch market price will continue to follow the corn price in the short term.