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November 14, 2011
 
China Soymeal Weekly: Prices hover near yearly low (week ended Nov 11, 2011)
 
An eFeedLink Exclusive

 
Price summary
 
Prices were lower.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Nov 4
(RMB/tonne)

Price as of Nov 11
(RMB/tonne)

Price change
(RMB/tonne)

Heilongjiang

43

3,150

3,150

0

Liaoning

43

3,060

3,030

-30

Hebei

43

3,050

2,950

-100

Shandong

43

3,060

3,000

-60

Jiangsu

43

3,050

2,950

-100

Guangdong

43

3,060

2,950

-110

Prices are representative and are for reference only.
RMB1=US$0.1577 (Nov 14)

 
 
Market analysis
 
As the EU debt crisis prolonged, negative market sentiments continued to affect global commodities market. Significant fall in CBOT soy futures prices added pressure on China's soymeal market, which was facing a high port inventory of 6.3 million tonnes.
 
 
Market forecast
 
Limited feed consumption, a weak CBOT soy market and ample soy supplies will hold soymeal market weak in China. 

 

 

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