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April 4, 2019
                       
China Soymeal Weekly: Cautious buying weighs on market (week ended Apr 1, 2019)
                                                                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices moved lower.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of
Mar 25
(RMB/tonne)

Price as of
Apr 1
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

2,616

2,584

-32

Liaoning

43%

2,666

2,620

-46

Hebei

43%

2,622

2,556

-66

Shandong

43%

2,520

2,518

-2

Jiangsu

43%

2,576

2,548

-28

Guangdong

43%

2,596

2,544

-52

Prices are representative and are for reference only.
RMB1=US$0.1489 (Apr 4)

 
 
Market analysis
 
Over the week, prices of CBOT May soy futures dropped 0.40%.
 
Following the recent week's upsurge, the demand for soymeal slackened as buyers turned cautious. Moreover, with the quantity of hog staying low despite the strengthening of prices, feed producers remained cautious in stockpiling soymeal inventories.
 
On average, soymeal prices decreased 1.5% over the week.
 
 
Market forecast
 
Soymeal prices are seen soft due to lacklustre hog feed demand and a soft global soy market. However, at current levels, soymeal prices are less likely to drop prominently.
 

 


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