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August 16, 2016                           
 
China Soymeal Weekly: Strengthened demand lifts prices (week ended Aug 15, 2016)
                                                                            
An eFeedLink Exclusive
 
 
Price summary
 
Prices moved higher.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Aug 7
(RMB/tonne)

Price as of Aug 15
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

3,800

3,800

0

Liaoning

43%

3,130

3,190

60

Hebei

43%

3,060

3,140

80

Shandong

43%

3,000

3,090

90

Jiangsu

43%

3,140

3,150

10

Guangdong

43%

3,100

3,150

50

Prices are representative and are for reference only.
RMB1=US$0.1507 (Aug 16)

 

Market analysis
 
After the recent week's sharp loss, CBOT soy futures prices consolidated higher as import orders for US soy beans exceeded analysts' expectations.
 
Supplies of soymeal increased 7% to 1.62 million tonnes in China as crushing rates picked up. However, as buyers increased purchases while soymeal was cheap after the sharp declines over the past three weeks, prices strengthened by 1.5%
 
 
Market forecast
 
Demand for soymeal is poised to expand as farmers fatten animals in preparation for the surge in demand in the period leading to the Mid-Autumn Festival and long October holidays. Unless CBOT soy futures prices fall significantly, soymeal prices are seen stable to higher in China.
 
 


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