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February 21, 2017
                          
China Soymeal Weekly: Slack demand holds down prices (week ended Feb 20, 2017)
                                                                            
An eFeedLink Exclusive
 
 
Price summary
 
Prices were stable to lower.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Feb 13
(RMB/tonne)

Price as of Feb 20
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

3,450

3,450

0

Liaoning

43%

3,310

3,330

20

Hebei

43%

3,240

3,180

-60

Shandong

43%

3,150

3,150

0

Jiangsu

43%

3,200

3,200

0

Guangdong

43%

3,200

3,140

-60

Prices are representative and are for reference only.
RMB1=US$0.1453 (Feb 21)

 
 
Market analysis
 
Prices of CBOT soy March futures dropped 2.5% with supplies from South American expected to be abundant.
 
Sales of soymeal remained weak in China, falling 77% to 400,000 tonnes compared with the previous week. However, crushers were not eager to slash prices amid low inventory pressure.
 
Prices of soymeal slid 0.51% during the period in review.
 
 
Market forecast
 
Feed demand should pick up gradually in the coming weeks. However, with animal inventories limited and soy supplies ample, soymeal market is expected to remain soft in China unless global soy prices strengthen prominently.
 


 
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