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February 14, 2017
                          
China Soymeal Weekly: Prices slide despite higher soy import costs (week ended Feb 13, 2017)
                                                                            
An eFeedLink Exclusive

 
Price summary
 
Prices moved lower.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Feb 6
(RMB/tonne)

Price as of Feb 13
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

3,450

3,450

0

Liaoning

43%

3,460

3,310

-150

Hebei

43%

3,270

3,240

-30

Shandong

43%

3,150

3,150

0

Jiangsu

43%

3,220

3,200

-20

Guangdong

43%

3,270

3,200

-70

Prices are representative and are for reference only.
RMB1=US$0.1455 (Feb 14)

 

Market analysis
 
Prices of CBOT soy March futures strengthened as South American farmers held back releases.
 
In China, prices of soymeal weakened while feed output shrank prominently after the Chinese New Year holidays. Although crushing volumes were limited due to low operation rates of crushers, soymeal market failed to stay stable amid sluggish demand.
 
On average, soymeal prices dipped 1.4% during the period in review.
 
 
Market forecast
 
Soymeal market will be under pressure in China. Even though firm prices of global soy market will lend some support to China's soymeal prices, crushers will have difficulties standing firm with feed production falling to annually low levels and feed millers limiting purchases.
 
 


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