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July 13, 2017
 
China Soymeal Weekly: China soymeal prices rebound strongly as global soy markets rally (week ended Jul 10, 2017)
                                                                            
An eFeedLink Exclusive
 
 
Price summary
 
Prices were sharply higher.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Jul 2
(RMB/tonne)

Price as of Jul 10
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

2,760

2,820

60

Liaoning

43%

2,760

2,930

170

Hebei

43%

2,700

2,870

170

Shandong

43%

2,700

2,840

140

Jiangsu

43%

2,660

2,800

140

Guangdong

43%

2,670

2,820

150

Prices are representative and are for reference only.
RMB1=US$0.1475 (Jul 13)

 

Market analysis
 
Prices of CBOT August soy futures rose a whopping 5.7% amid concerns that dry climates might result in lower soy yield.
 
Soymeal futures prices soared in Dalian Commodities Exchange with global soy markets strengthening. Spot prices surged 5.1% as well while feed producers increased stockpiles amid fears of a strong rally.
 
Port inventories of soy remained stable over the week. Imports are projected at 9.1-9.2 million tonnes in July.
 
 
Market forecast
 
Global soy prices are expected to consolidate following previous week's rally. With import costs stable, soymeal prices should remain around current levels as unsteady recovery in the livestock markets curtails feed sales.
 
 

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