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November 3, 2008
 
China Soymeal Weekly: Global financial markets recover, CBOT surge fuel soymeal price increase (week ended Oct 31, 2008)

 

An eFeedLink Exclusive

 


Price summary

 

Prices were higher in most regions.

 

Weekly transacted prices of soymeal in China

Region

Protein content
(%)

Price as of Oct 24 (RMB/tonne)

Price as of Oct 31 (RMB/tonne)

Price change(RMB/tonne)

Heilongjiang

43

3,200

3,320

120

Liaoning

43

3,310

3,420

110

Hebei

43

3,280

3,410

130

Shandong

43

3,250

3,350

100

Jiangsu

43

3,200

3,300

100

Guangdong

43

3,100

3,180

80

Prices are representative and are for reference only.
RMB1=US$0.1462 (Nov 3)
 

 

Market analysis

 

China's soymeal prices soared on the back of global stock market recovery and CBOT's price surge. 

 
On the other hand, sales and prices of eggs and poultry products in China plummeted as the contaminated food scandal spread from dairy to egg products.

 
 

Market forecast

 

Near-term soymeal prices are seen to decline by RMB100/tonne amid sluggish feed demand.


 

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