Corn price market trend in 2023 is still stable, with a slight increase.

The 2023 corn price market trend is affected by a variety of factors, including supply and demand, policy adjustments, substitute prices and international markets. In China, corn is an important food crop, and its price fluctuations are important to farmers' income and food security. At present, the price of corn is still very stable, and occasionally there will be an upward trend.

From the viewpoint of supply and demand, China's corn supply is sufficient in 2023. Due to the better benefits of corn planting, farmers are expected to increase the area planted with corn, and corn production is expected to grow nationwide. In addition, in recent years, China has increased its investment in agricultural science and technology, which has improved the level of corn yields and further increased corn supply.

And on the demand side, although corn is in high demand in areas such as feed and industrial consumption, demand growth is limited by the macroeconomic situation, pork prices and other factors. Overall, supply exceeds demand in the corn market in 2023, which will put some pressure on corn prices.

Corn Price Influencing Factors

Policy adjustment is also an important factor affecting corn prices. In order to guarantee national food security and farmers' income, our government has made a series of policy adjustments to the corn market. For example, in 2023, the government initiated the purchase of 3.04 million tons of state reserve corn to stabilize the market price.

In addition, the government implemented a temporary corn storage policy to prevent corn prices from falling excessively. These policy adjustments helped stabilize corn prices, but also affected the supply and demand in the market, leading to slight price fluctuations.

Corn, as a food crop, has substitutes including soybeans and rice. With the improvement of the economic situation at home and abroad, the breeding industry and food processing industry to increase the demand for raw materials, the price of alternatives to corn may rise, which will have a certain supportive effect on the price of corn.

Globally, corn market supply and demand, international corn prices, exchange rates and other factors will affect the price of corn in China. For example, if international corn prices rise, the cost of imports increase, may push up China's corn prices.

Reference for the above: Baidu Encyclopedia - corn