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March 26, 2019
                            
China Soymeal Weekly: Prices rise on improved demand (week ended Mar 25, 2019)
                                                                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices moved higher.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of
Mar 18
(RMB/tonne)

Price as of
Mar 25
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

2,698

2,616

-82

Liaoning

43%

2,626

2,666

40

Hebei

43%

2,554

2,622

68

Shandong

43%

2,502

2,520

18

Jiangsu

43%

2,500

2,576

76

Guangdong

43%

2,568

2,596

64

Prices are representative and are for reference only.
RMB1=US$0.1490 (Mar 26)

 

Market analysis
 
Over the week, prices of CBOT May soy futures inched higher by 0.31%.
 
Demand for soymeal improved as feed millers increased buying while prices were low and exports decreased. This supported prices to climb in most regions, lifting the weekly average price by 1.5%.
 
Meanwhile, soy planting acreage in China is expected to expand in the coming season as the state subsidy for soy is RMB200/mu more than corn.
 
 
Market forecast
 
The outlook of the soymeal market remains uncertain despite the recent round of rebound. Although the prices of hog and broilers have surged tremendously lately, feed millers will stay cautious as the population of livestock is limited. Moreover, buyers are reluctant to stockpile inventories in view of sufficient soymeal availability.
 

 


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