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April 24, 2017
 
China Soymeal Weekly: Soaring CBOT soy futures strengthen China soymeal market (week ended Apr 17, 2017)
                                                                            
An eFeedLink Exclusive
 
 
Price summary
 
Prices were stable to higher.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Apr 10
(RMB/tonne)

Price as of Apr 17
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

3,300

3,300

0

Liaoning

43%

3,100

3,160

60

Hebei

43%

2,920

3,000

80

Shandong

43%

2,860

2,950

90

Jiangsu

43%

2,950

2,950

0

Guangdong

43%

2,880

2,980

100

Prices are representative and are for reference only.
RMB1=US$0.1452 (Apr 17)


Market analysis
 
Prices of CBOT July soy futures increased 1.13% as unpleasant climates sparked concerns about the upcoming harvest
 
In China soymeal futures prices in Dalian Commodities Exchange surged 3.7% with prices of soy imports moving higher. This lifted spot soymeal prices by a prominent 1.8% as buyers stocked inventories amid concerns that prices might surge further.
 
China imported 6.3 million tonnes of soy during March, which was 14% above February's import volume but slightly below market expectations.
 
 
Market forecast
 
Sales of soymeal are poised to slow as most buyers have stockpiled sufficient inventories lately. Although several crushers in Tianjin are likely to halt operation, soymeal availability is expected to remain abundant with crushers in other regions maintaining high crushing rates. Soymeal prices are seen stable to lower.
 

 


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