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Market Reports

October 2, 2017
 
China Soymeal Weekly: Stable demand, lower supply lift prices (week ended Oct 2, 2017)
                                                                            
An eFeedLink Exclusive
 
 
Price summary
 
Prices moved higher.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Sep 25
(RMB/tonne)

Price as of Oct 2
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

2,900

2,900

0

Liaoning

43%

3,040

3,100

60

Hebei

43%

2,830

2,880

50

Shandong

43%

2,830

2,880

50

Jiangsu

43%

2,800

2,850

50

Guangdong

43%

2,840

2,890

50

Prices are representative and are for reference only.
RMB1=US$0.1505 (Oct 2)


Market analysis
 
Prices of CBOT November soy futures slid 1.6% compared with the previous week.
 
As pre-festive stockpiling dwindled, daily sales of soymeal dropped in China by 40% averaging 734,000 tonnes. However, prices increased 1.8% with supplies shrinking due to early production halts of several crushers.
 
 
Market forecast
 
Demand for soymeal is set to slow after the long holidays due to diminished animal inventories. Prices will be under pressure after crushers resume production towards mid-October.
 
 


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