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October 17, 2011
 
China Soymeal Weekly: Rising CBOT soy futures lift China soymeal prices (week ended Oct 14, 2011)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices were mostly higher.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Oct 8
(RMB/tonne)

Price as of Oct 14
(RMB/tonne)

Price change
(RMB/tonne)

Heilongjiang

43

3,100

3,150

50

Liaoning

43

3,100

3,080

-20

Hebei

43

2,970

3,070

100

Shandong

43

2,980

3,100

120

Jiangsu

43

3,000

3,050

50

Guangdong

43

2,950

3,050

100

Prices are representative and are for reference only.
RMB1=US$0.1569 (Oct 17)

 
 
Market analysis
 
After an initial weak position earlier in the week, China soymeal market strengthened as CBOT soy futures prices moved higher. However, feed millers remained prudent while hog inventories stayed flat and aquaculture started to slow down. 
 
 
Market forecast
 
Soymeal prices are likely to be higher should CBOT soy futures soar further. However, unstable global economic situation, abundant soy supplies in China and cautious mood will exert downward pressure on the market.
 

 


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