April 1, 2014
China Soymeal Weekly: Market remains firm despite weak feed demand (week ended Mar 28, 2014)
An eFeedLink Exclusive
Price summary
Prices were stable to higher.
|
Region |
Protein content (%) |
Price as of Mar 21 |
Price as of Mar 28 |
Price change |
|
Heilongjiang |
43 |
3,850 |
3,850 |
0 |
|
Liaoning |
43 |
3,490 |
3,630 |
140 |
|
Hebei |
43 |
3,730 |
3,730 |
0 |
|
Shandong |
43 |
3,460 |
3,460 |
0 |
|
Jiangsu |
43 |
3,500 |
3,540 |
40 |
|
Guangdong |
43 |
3,720 |
3,750 |
30 |
|
Prices are representative and are for reference only. | ||||
Market analysis
As US soy prices continued to rise over the past week, China soymeal market was led to another week of gains with prices in some regions notching up.
However, weak demand for feed and ample supply weighed on market and limited the upward momentum in other regions.
Market forecast
Though strong US soy prices will continue to lend support, China soymeal market is unlikely to make further gains without an uptick in demand in the coming period.
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