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November 5, 2008

 

China Soymeal Mid-Week:  Prices decline in the north (Nov 4, 2008)

 

An eFeedLink Exclusive 

 

 

In northern and northeast China, prices fell by RMB30-60/tonne during mid-week to settle in the range of RMB3,360-3,420/tonne.

 
Prices in the south and east rose RMB50/tonne.

 

Soymeal transacted prices in China

Region

Protein content (%)

Price as of Nov 4 (RMB/tonne)

North-east China

 

Heilongjiang 

43

3,360

Liaoning 

43

3,380

North China 

 

Hebei 

43

3,420

East China 

 

Shandong 

43

3,350

Jiangsu 

43

3,350

South China 

 

Guangdong 

43

3,200

Prices are representative and are for reference only.
RMB1=US$0.1463 (Nov 5)

 

In the northern parts of China, soymeal supplies were abundant as new shipments of soybean arrived lately. Soymeal prices fell inevitably amid feeble feed demand.


In southern and eastern China, soymeal supplies tightened as some crushers postponed soybean shipments while others reduced production. Soymeal prices rose as a result.


Soymeal prices are expected to remain weak amid abundant supply.

 
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