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March 5, 2018
                         
China Soymeal Weekly: Soymeal prices strengthen further as soy costs surge (week ended Mar 5, 2018)
                                                                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices continued to climb.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Feb 26
(RMB/tonne)

Price as of Mar 5
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

3,030

3,250

220

Liaoning

43%

3,200

3,350

150

Hebei

43%

3,090

3,260

170

Shandong

43%

3,000

3,200

200

Jiangsu

43%

3,000

3,200

200

Guangdong

43%

3,010

3,250

220

Prices are representative and are for reference only.
RMB1=US$0.1578 (Mar 5)

 
 
Market analysis
 
Prices of CBOT May soy futures increased 2.4% over the week amid concerns over low production in Argentina.
 
Soy transaction volumes surged 39% compared with the week before Chinese New Year totalling 1.10 million tonnes. Buyers eagerly stocked inventories amid fears that global soy prices might soar further.
 
Meanwhile, supplies of soy dwindled with February imports down by 29% on-month to 5.56 million tonnes
 
 
Market forecast
 
Demand for soymeal in China will stay slow in the coming weeks with animal population diminished. However, with global soy futures market staying strong, prices are less likely to move lower amid high import costs.
 

 


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