Poultry
xClose

Loading ...
Swine
xClose

Loading ...
Dairy & Ruminant
xClose

Loading ...
Aquaculture
xClose

Loading ...
Feed
xClose

Loading ...
Animal Health
xClose

Loading ...
Livestock & Feed Market

November 8, 2017
 
China Soymeal Weekly: Surge in trading volume fails to strengthen market (week ended Nov 6, 2017)
 
An eFeedLink Exclusive
 

Price summary

Prices were rangebound.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Oct 30
(RMB/tonne)

Price as of Nov 6
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

3,000

3,000

0

Liaoning

43%

3,120

3,140

20

Hebei

43%

3,070

3,020

-50

Shandong

43%

3,010

2,970

-40

Jiangsu

43%

2,960

2,890

-70

Guangdong

43%

2,950

2,980

30

Prices are representative and are for reference only.
RMB1=US$0.1507 (Nov 8)

 
 
Market analysis

Prices of CBOT January soy futures remained stable during the week in review.

In China, prices of soymeal edged lower by 0.43% although markets in several regions stayed stable.

Transaction volume surged 190% to 2.47 million tonnes over the week, breaking the weekly trading record over the past several years. However, despite a substantial 11% fall, soymeal inventories of crushers remained at a high of 680,000 tonnes, which was over 20% above the same period last year. This limited the upward scope of the market.
 

Market forecast

Soymeal imports are projected to remain high during November and December, totalling around 19 million tonnes. With the global soy market weak, imports abundant, crushers' soymeal stocks staying high and the hog population flat, China's soymeal prices are expected to remain soft.
 

 


All rights reserved. No part of the report may be reproduced without permission from eFeedLink.

Share this article on FacebookShare this article on TwitterPrint this articleForward this article
Previous
My eFeedLink last read