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MARKET

September 10, 2018                       
 
China Soymeal Weekly: Tight availability strengthens markets (week ended Sep 10, 2018)
                                                                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices were stable to higher.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Sep 3
(RMB/tonne)

Price as of Sep 10
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

3,170

3,320

150

Liaoning

43%

3,200

3,260

60

Hebei

43%

3,240

3,240

0

Shandong

43%

3,180

3,160

-20

Jiangsu

43%

3,200

3,230

30

Guangdong

43%

3,240

3,240

0

Prices are representative and are for reference only.
RMB1=US$0.1458 (Sep 10)

 
 
Market analysis
 
Over the week, prices of CBOT November soy futures remained soft, inching up a nominal 0.07%.
 
Despite weak global soy futures prices, China's soymeal market strengthened by 1.1% over the week. With the costs of US soy imports tremendously higher due to the trade war, supplies tightened as importers decreased buying. Crushers lifted soymeal prices while buyers stockpiled inventories amid concerns of a supply crunch.
 
 
Market forecast
 
Demand for hog feed will be cautious as African swine fever spreads rapidly in China, raising much concern among farmers and consumers. Although this will impede the sales of soymeal to some extent, prices of soymeal are less likely to drop by a lot with supply tight.
 

 


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