China Agriculture View

Yesterday, China’s Heilongjiang sold 12,030 Tcorn in state corn auctions.

The average bidding price stood at 1,534 yuan ($224.6) per tonne, a slight increase from last week’s 1,525 yuan per tonne.

Auctions will continue in the neighbouring provinces of Jilin, Inner Mongolia and Liaoning, closing at 14:37 p.m. (0837 GMT).

China started its destocking efforts on July 21, offering 2 million tonnes of corn and 500,000 tonnes of soybean from its state reserves each week.

This week’s state soybean reserve auction will take place on Wednesday, after the first two rounds failed to attract any bids.