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China

February 7, 2019
                            
China Soymeal Weekly: Market softens on light trade (week ended Feb 4, 2019)
                                                                                  
An eFeedLink Exclusive 
 
  
Price summary
 
Prices weakened lately.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of
Jan 28
(RMB/tonne)

Price as of
Feb 4
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

2,820

2,800

-20

Liaoning

43%

2,844

2,830

-14

Hebei

43%

2,836

2,800

-36

Shandong

43%

2,790

2780

-10

Jiangsu

43%

2,800

2,780

-20

Guangdong

43%

2,836

2,830

-6

Prices are representative and are for reference only.
RMB1=US$0.1483 (Feb 7)

 
 
Market analysis
 
Over the week, prices of CBOT March soy futures closed lower by 0.88%.
 
With the production of hog feed slow, soymeal demand was sluggish. Trade was limited as feed producers gradually halted production in preparation for the upcoming Chinese New Year holidays.

 
Market forecast
 
After the week-long Chinese New Year holidays, soymeal sales are projected to remain sluggish as the population of animal is low. Additionally, the severe disease situation will further dampen the confidence of feed millers, curtailing the demand for soymeal.
 

 


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