Trade was very light with farmers reluctant to sell their crop at low prices.

 

Soy prices in Jiamusi, Heilongjiang province, were around RMB3,640-3,740 (US$533.07-547.72) a tonne, compared with RMB3,740 (US$547.72) per tonne a week ago.

 

Prices were RMB3,700-3,760 (US$541.86-550.64) per tonne in Suihua in the same province, lower than RMB3,800-3,820 (US$556.50-559.43) per tonne the week earlier.

Soy planting area in Heilongjiang, the largest producing province, is likely to fall 8% this year from a year earlier due to competition from cheaper soy imported from the US and South America, reducing China's overall soy acreage, according to a survey by the China National Grain and Oils Information Center. If confirmed, this would be the second consecutive year in which national soy planting area has fallen, it said.

 

Soymeal prices were mostly stable. Prices rose at the start of the week, but fell back. Feedmeal demand remained weak due to sluggish pork prices.

 

Soymeal prices in Siping, Jilin province, were around RMB3,180 (US$465.70) per tonne, unchanged from a week ago.