Poultry
xClose

Loading ...
Swine
xClose

Loading ...
Dairy & Ruminant
xClose

Loading ...
Aquaculture
xClose

Loading ...
Feed
xClose

Loading ...
Animal Health
xClose

Loading ...
News Alert

October 16, 2017
 
China Soymeal Weekly: Strong global soy market lifts China soymeal prices (week ended Oct 16, 2017)
                                                                            
An eFeedLink Exclusive
 
 
Price summary
 
Prices continued to surge.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Oct 2
(RMB/tonne)

Price as of Oct 16
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

2,900

3,000

100

Liaoning

43%

3,100

3,220

120

Hebei

43%

2,880

3,100

220

Shandong

43%

2,880

3,000

120

Jiangsu

43%

2,850

3,000

150

Guangdong

43%

2,890

2,970

80

Prices are representative and are for reference only.
RMB1=US$0.1521 (Oct 16)

 
 
Market analysis
 
Prices of CBOT November soy futures surged 3.6% over the past two weeks.
 
As USDA lowered the projection of soy yield on October 12 against expectations, futures prices soared while speculators covered short positions.
 
Oil crushers resumed operation after the holidays, lifting soymeal output substantially over the past week to 1.6 million tonnes. However, oil crushers stood firm amid low inventory pressure. After CBOT soy futures prices rallied towards the end of last week, crushers lifted prices in tandem even as sales were slow.
 
On average, soymeal prices increased 3.4% compared with late September prices.
 
China imported 8.11 million tonnes of soy in September.
 
 
Market forecast
 
Oil crushers will not be eager to negotiate prices with inventories low and global soy futures market staying strong. However, as most feed millers have accumulated stocks prior to the long October holidays, soft demand will limit the upward scope of soymeal market.

 
 


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