Chinese corn prices have pushed to multi-month highs despite the advancing harvest.
Wet weather, indeed, slowed crop collection and high energy prices payed to dry grain pushed up all logistics costs.
Thus, new crop corn futures on the Dalian Commodity Exchange have rallied nearly 9% in the past month.
At the same time, key cash corn markets in the east and south of the country have climbed sharply in recent days.
Indeed, cash corn in Shandong Province jumped from less than 2,650 to 2,890 yuan ($451.81) a tonne only in the last two weeks.
The delayes in harvest work, means delaye into sells so, in northern and northeastern China, only around 12% of the corn crop has been sold to the market on average so far, compared with 14% at same time last year.
Chinese wheat prices, have climbed too around 10%, in Shandong province since early September.
Planting of the new winter wheat crop was delayed due the constant rains and in the meantime, has came a strong demand from milling plants and the livestock sector.
($1 = 6.3965 Chinese yuan renminbi).
