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January 29, 2019
 
China Soymeal Weekly: Prices consolidate amid pre-festive buying (week ended Jan 28, 2019)

An eFeedLink Exclusive
 

Price summary
 
Prices moved within a narrow range.
 

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%

2,828

2,820

-8

Liaoning

43%

2,830

2,844

14

Hebei

43%

2,826

2,836

10

Shandong

43%

2,828

2,790

-38

Jiangsu

43%

2,806

2,800

-6

Guangdong

43%

2,806

2,836

30

Prices are representative and are for reference only.
RMB1=US$0.1458 (Jan 29)

 
 
Market analysis
 
Over the week, prices of CBOT March soy futures closed higher by 0.94%.
 
Lacklustre demand for soymeal, resulting from a beleaguered hog market and lower protein requirements in feed production, put a lid on the prices. However, as some feed producer restocked depleted inventories prudently, soymeal prices strengthened modestly in several regions.
 
 
Market forecast
 
Soymeal demand is projected to weaken in the coming days as feed producers gradually halt production with Chinese New Year approaching. Prices will be flat amid limited transaction volumes.

 

 

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