Thai corn prices are expected to dip over the next few days with export demand still sluggish and domestic stocks high, traders said on Wednesday. Domestic demand for feed was not expected to pick up yet, even though bird flu had eased with the last stricken area declared free of the H5N1 virus on May 3, they said.Domestic corn, a major ingredient in poultry feed, was steady on Wednesday from a week earlier at 5.4 baht a kg ($133 a tonne).
It was 7.25 baht a year ago.
Trade was thin with around only 5,000 tonnes, sold in March, expected to be shipped this month to Vietnam, exporters said.
"We did not make any new sales last month. Trade has been very quiet," said a leading exporter, Thavee Tantiponganand of the Tanyaphan trading firm.
On Wednesday, Thai corn for export was steady from a week earlier at $140 a tonne, free-on-board, for June shipment.
Trade was expected to remain sluggish for the next few months as overseas buyers, including Malaysia, had bought elsewhere through to July shipment, traders said.
Thailand, the world's fourth biggest chicken exporter before bird flu struck in late 2003, has to wait 6 months after the last outbreak before it can declare itself free of the virus and be able to resume exports of uncooked poultry products.
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