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Market Reports
 
September 5, 2017
 
China Soymeal Weekly: Prices range bound amid ample availability (week ended Sep 4, 2017)
                                                                            
An eFeedLink Exclusive
 
 
Price summary
 
Prices were mixed.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Aug 28
(RMB/tonne)

Price as of Sep 4
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

2,900

2,950

50

Liaoning

43%

2,920

2,930

10

Hebei

43%

2,830

2,830

0

Shandong

43%

2,820

2,800

-20

Jiangsu

43%

2,800

2,800

0

Guangdong

43%

2,820

2,800

-20

Prices are representative and are for reference only.
RMB1=US$0.1534 (Sep 5)


Market analysis
 
Prices of CBOT November soy futures closed higher on robust demand during the week in review.
 
Demand for soymeal was slow as feed millers limited output amid slack sales. Meanwhile, crushing volume expanded over 2% to 1.84 million, hence putting a lid on soymeal prices.
 
During August, China imported slightly over 8 million tonnes of soy, lower than market expectations. September imports are projected at 6.8 million tonnes.
 
 
Market forecast
 
Feed demand is set to improve during September as the livestock farmers fatten animals in the period leading to Mid-Autumn Festival. Nonetheless, with supplies of soymeal abundant, prices are unlikely to surge strongly.
 


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