Poultry
xClose

Loading ...
Swine
xClose

Loading ...
Dairy & Ruminant
xClose

Loading ...
Aquaculture
xClose

Loading ...
Feed
xClose

Loading ...
Animal Health
xClose

Loading ...
Undefined

June 26, 2018
                     
China Soymeal Weekly: Prices rebound strongly (week ended Jun 25, 2018)
                                                                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices moved higher.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Jun 18
(RMB/tonne)

Price as of Jun 25
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

2,840

3,130

290

Liaoning

43%

2,920

2,840

-80

Hebei

43%

2,880

2,970

90

Shandong

43%

2,810

3,000

190

Jiangsu

43%

2,870

2,980

110

Guangdong

43%

2,860

2,920

60

Prices are representative and are for reference only.
RMB1=US$0.1531 (Jun 26)

 
 
Market analysis
 
Over the week, prices of CBOT July soy futures slid 1.2%, showing signs of stabilising.
 
Chinese buyers increased stockpiles of soy amid concerns that supplies would tighten entering Q3 with Argentina's harvest set to decrease by about 20 million tonnes this year due to droughts. Moreover, should the 25% import tariff on US soy be implemented, soymeal prices would surge prominently. Hence, even as CBOT soy futures market weakened further, soymeal prices rebounded strongly by 4.1% over the week.
 
 
Market forecast
 
China is highly dependent on imported soy as its domestic production is only 15 million tonne whereas annual consumption is around 110 million tonnes as 2017. Prices of soymeal should remain firm amid worries that the trade war between the US and China will result in a supply crunch.
 


All rights reserved. No part of the report may be reproduced without permission from eFeedLink.

Share this article on FacebookShare this article on TwitterPrint this articleForward this article
Previous
My eFeedLink last read