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Market Reports

June 5, 2018

China Soymeal Weekly: Market stays firm despite light trade (week ended Jun 4, 2018)

An eFeedLink Exclusive
 

Price summary

Prices were mixed.
 
Weekly transacted prices of soymeal in China
Region
Protein content (%)
Price as of May 28
(RMB/tonne)
Price as of Jun 4
(RMB/tonne)
Price change
(Percentage)
Heilongjiang
43%
3030
2980
0
Liaoning
43%
3120
3070
-50
Hebei
43%
3000
2980
-20
Shandong
43%
2970
3000
30
Jiangsu
43%
2960
2960
30
Guangdong
43%
2920
2910
0
Prices are representative and are for reference only.
RMB1=US$0.1558 (Jun 4)
 
 
Market analysis
 
Over the week, prices of CBOT July soy futures slid 1.9%.

Trade was light as buyers held back purchases amid slow usages. However, crushers were cautious in cutting prices with the outlook of the soy market uncertain due to the trade tension between China and the US.

On average, soymeal prices increased 1% during the period in review. 
 

Market forecast

Despite the recent week's rebound, soymeal market lacks stimulating factors to bring prices higher. With global soy futures weak, domestic feed demand slow and soymeal supplies ample, prices are likely to move lower in the coming week.
 

 


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