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March 18, 2019
                       
China Soymeal Weekly: Prices rebound amid tighter supply (week ended Mar 18, 2019)
                                                                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices were mixed.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of
Mar 11
(RMB/tonne)

Price as of
Mar 18
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

2,626

2,698

72

Liaoning

43%

2,580

2,626

46

Hebei

43%

2,518

2,554

36

Shandong

43%

2,567

2,502

-65

Jiangsu

43%

2,520

2,500

-20

Guangdong

43%

2,496

2,568

-72

Prices are representative and are for reference only.
RMB1=US$0.1490 (Mar 18)

 
 
Market analysis
 
Over the week, prices of CBOT May soy futures rebounded 1.9%.
 
As soy imports dwindled, prices of soymeal moved higher by 0.97% while supplies diminished. However, feed producers remained prudent and limited soymeal buying while the disease situation of the hog sector showed no signs of improving.
 
 
Market forecast
 
Despite the fall in soy imports, soymeal market is expected to remain soft due to slack hog feed demand. Nonetheless, price falls should slow with supplies of soymeal tightened.
 

 

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