Poultry
xClose

Loading ...
Swine
xClose

Loading ...
Dairy & Ruminant
xClose

Loading ...
Aquaculture
xClose

Loading ...
Feed
xClose

Loading ...
Animal Health
xClose

Loading ...
Undefined

September 20, 2017

China Soymeal Weekly: Improved demand supports price rise (week ended Sep 18, 2017)
 
An eFeedLink Exclusive
 

Price summary
 
Prices remained stable.
 

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%

2,900

2,900

0

Liaoning

43%

2,970

2,980

10

Hebei

43%

2,830

2,830

0

Shandong

43%

2,800

2,830

30

Jiangsu

43%

2,820

2,820

0

Guangdong

43%

2,840

2,870

30

Prices are representative and are for reference only.
RMB1=US$0.1523 (Sep 20)

 

Market analysis

Prices of CBOT November soy futures dipped substantially but recouped losses before the week ended, closing 0.69% higher compared with the previous week.

Demand for soymeal was firm as feed millers stockpiled inventories in preparation for the long holidays during early October. Daily transaction volume increased to 137,000 tonnes, higher by 27,000 tonnes on average compared with the recent week. As crushers cleared inventories steadily, prices of soymeal rose by 0.38%. 

Customs statistics show that China imported 8.4 million tonnes of soy in August. September's import is projected at 7 million tonnes.
 

Market forecast

Soymeal prices are expected to stay stable in the coming week. Although sales are unlikely to increase prominently as most buyers have accumulated ample stocks, limited crushing output will help to underpin prices.
 

 


All rights reserved. No part of the report may be reproduced without permission from eFeedLink.

Share this article on FacebookShare this article on TwitterPrint this articleForward this article
Previous
My eFeedLink last read