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Market Reports
        
January 8, 2019
                 
China Soymeal Weekly: Prices show signs of stabilising (week ended Jan 7, 2019)
                                                                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices were stable.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of
Dec 31
(RMB/tonne)

Price as of
Jan 7
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

2,970

3,000

30

Liaoning

43%

2,960

2,990

30

Hebei

43%

2,900

2,920

20

Shandong

43%

2,930

2,950

20

Jiangsu

43%

2,890

2,900

10

Guangdong

43%

2,900

2,960

60

Prices are representative and are for reference only.
RMB1=US$0.1458 (Jan 8)

 
 
Market analysis
 
Over the week, prices of CBOT March soy futures closed higher by 1.03%.
 
Demand for soymeal strengthened in several regions as the soy futures market rebounded amid concerns over Brazil's upcoming harvest. Moreover, feed producers started to accumulate inventories, albeit cautiously, in preparation for the long Chinese New Year holidays.
 
On average, soymeal prices edged lower 0.54% over the week.
 
 
Market forecast
 
More feed mills are expected to make purchases in the coming weeks, hence helping to underpin soymeal prices. Nonetheless, with the hog sector substantially weakened by the severe disease outbreak, limited feed sales will curtail the demand for soymeal.
 

 


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