Corn prices have been dropping this week. There are a few factors that have contributed to this.
First of all, supply volumes from different origins are ramping up. Last week, the market was dominated by fresh corn from Yunnan. The supply was small and the price was high. This week, corn from Hubei, Hebei, and Tianjin have all arrived on the market in large quantities. With the supply exceeding the demand, prices fell as a result.
Secondly, the hot weather, high storage costs, and the fact that fresh corn has a short shelf life are also driving sellers to sell fresh corn at a reduced price.
Moreover, transportation costs have been reduced. Before, only Yunnan was in production, and now crops from Hebei and Hubei have hit the market in large quantities. With shorter distances, transportation costs are greatly reduced.
With the next batches of fresh corn from Hainan and Guangdong becoming available in large volumes, it is expected that the price of fresh corn will continue to drop next week.
Source: Henan Wanbang International Market