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October 10, 2016

China Soymeal Weekly: Light trade holds prices flat (week ended Oct 9, 2016)
 
An eFeedLink Exclusive
 

Price summary

Prices were mixed.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Sep 25
(RMB/tonne)

Price as of Oct 9
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

3,650

3,600

-50

Liaoning

43%

3,300

3,330

30

Hebei

43%

3,320

3,240

20

Shandong

43%

3,250

3,200

-50

Jiangsu

43%

3,310

3,280

-30

Guangdong

43%

3,370

3,310

-60

Prices are representative and are for reference only.
RMB1=US$0.1492 (Oct 10)

  
 
Market analysis

November CBOT soy futures were range bound over the past two weeks as speculators withheld trading amid cautious mood.

Prices of soymeal moved within a narrow range as a result while demand was light before and during the October long holidays.

Meanwhile, soy imports are projected at 6.45 million tonnes during October, higher than September's 5.86 million tonnes.
 
 
Market forecast

Soymeal market is poised to remain weak while domestic livestock feed demand remains flat during October. Moreover, supplies are expected to be abundant with imports increased.
 

 


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