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Livestock & Feed Market

October 4, 2018
                            
China Soymeal Weekly: Soy import concern drives up soymeal prices (week ended Sep 30, 2018)
                                                                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices rose significantly.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of
Sep 24
(RMB/tonne)

Price as of
Sep 30
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

3,360

3,480

120

Liaoning

43%

3,400

3,520

120

Hebei

43%

3,380

3,510

130

Shandong

43%

3,310

3,480

170

Jiangsu

43%

3,350

3,500

150

Guangdong

43%

3,340

3,490

150

Prices are representative and are for reference only.
RMB1=US$0.1451 (Oct 4)

 
 
Market analysis
 
Over the week, prices of CBOT November soy futures inched lower 0.21%.
 
Prices of soymeal soared further in China amid fears of supply shortages. Although demand for feed was flat, hence limiting the usages of soymeal, buyers stockpiled inventories in anticipation of tightening availability and strong prices ahead.
 
On average, soymeal prices surged 2.8% over the week.
 
 
Market forecast
 
Soymeal prices are seen strong amid fears of climbing soy import costs. However, as prices have increased 7% during September, and are tremendously higher by 20% compared to June's annual low, buyers will turn prudent in the coming period.
 

 


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