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September 19, 2016
                     
China Soymeal Weekly: Soft pre-festive market (week ended Sep 18, 2016)
                                                                            
An eFeedLink Exclusive
 
 
Price summary
 
Prices were lower.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Sep 11
(RMB/tonne)

Price as of Sep 18
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

3,700

3,650

-50

Liaoning

43%

3,230

3,200

-30

Hebei

43%

3,220

3,200

-20

Shandong

43%

3,230

3,200

-30

Jiangsu

43%

3,250

3,220

-30

Guangdong

43%

3,260

3,230

-30

Prices are representative and are for reference only.
RMB1=US$0.1486 (Sep 19)

 
 
Market analysis
 
November CBOT soy futures plunged during early parts of last week, but regained some losses before the week ended, as USDA 's latest update increased yield projections. Over the week, prices dipped 1.22%.
 
Soymeal transaction volume was limited to 305,000 tonnes as there were only three trading days due to the Mid-Autumn Festival celebration. Despite lower operation rates of crushers, at 42%, prices of soymeal slid 0.92%.
 
 
Market forecast
 
In the coming period, feed millers will increase soymeal stockpiles before the long break in October, lending support to the market. Soymeal prices are seen stable to higher.
 


 
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