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October 18, 2016
                   
China Soymeal Weekly: Prices dip amid higher supply, slack demand (week ended Oct 16, 2016)
                                                                            
An eFeedLink Exclusive
 
 
Price summary
 
Prices moved lower.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Oct 9
(RMB/tonne)

Price as of Oct 16
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

3,600

3,380

-220

Liaoning

43%

3,330

3,230

-100

Hebei

43%

3,240

3,190

-50

Shandong

43%

3,200

3,160

-40

Jiangsu

43%

3,280

3,230

-50

Guangdong

43%

3,310

3,220

-90

Prices are representative and are for reference only.
RMB1=US$0.1484 (Oct 18)

 
 
Market analysis
 
November CBOT soy futures consolidated higher over the week despite the soy harvest approaching.
 
Soymeal futures prices tumbled over 2% in Dalian Commodities Exchange. This, together with higher crushing rates, which lifted weekly output by 1.59 million tonnes, dragged down spot prices of soymeal by 2.8%.
 
 
Market forecast
 
Global soymeal prices are expected to be under pressure with the US enjoying a bumper harvest and the soy planting in south America progressing well. China's soymeal prices are expected to move lower amid weaker import prices and sluggish feed demand.

 


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