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October 29, 2008

 

China Soymeal Mid-Week: China's soymeal prices higher (Oct 28, 2008)

 

An eFeedLink Exclusive 

 

 

Prices rose by RMB20-100/tonne during mid-week to settle in the range of RMB3,100-3,350/tonne.

 

Soymeal transacted prices in China

Region

Protein content (%)

Price as of Oct 28 (RMB/tonne)

North-east China

 

Heilongjiang 

43

3,300

Liaoning 

43

3,290

North China 

 

Hebei 

43

3,350

East China 

 

Shandong 

43

3,350

Jiangsu 

43

3,250

South China 

 

Guangdong 

43

3,100

Prices are representative and are for reference only.
RMB1=US$0.1460 (Oct 29)

 

Soymeal prices in China were propped up by CBOT's rebound. However, trade activities were still weak. Meanwhile, the USDA revised data of soy crops which have a negative influence on markets.

 

Soymeal prices are expected to stabilize or see marginal gain in the near-term.
 
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