The State Reserve held its weekly temporary storage corn auction today, January 18, in a number of provinces around China. Of the 227,897 metric tons (MT) of corn planned for sales, 24,473MT were actually traded. This week's corn auction trade rate is 10.74%, a significant increase over the previous week's rate of 0.08%.
China's northern Heilongjiang province accounted for the majority of sales with 23,155MT of corn traded at auction, an auction trade rate of 22.18%. The corn traded at a price of CNY 1,560 per MT.
The State Reserve also held its weekly inter-province temporary storage corn auction today. Of the 1.553 million MT of corn planned for sales, 149,531 MT were actually traded. This week's inter-provincial auction trade rate is 9.63%, down slightly from last week s rate of 10.63%. Sichuan province registered the largest trading volume with 20,775 MT of corn traded, or 26.22% of the planned reserves for sale. Corn traded at the average price of CNY 1,834 per MT
