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Livestock & Feed Market

November 14, 2017
                          
China Soymeal Weekly: Prices stay flat on falling demand (week ended Nov 13, 2017)
                                                                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices remained weak.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Nov 6
(RMB/tonne)

Price as of Nov 13
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

3,000

3,000

0

Liaoning

43%

3,140

3,120

-20

Hebei

43%

3,020

3,040

20

Shandong

43%

2,970

2,980

10

Jiangsu

43%

2,890

2,880

-10

Guangdong

43%

2,980

2,940

-40

Prices are representative and are for reference only.
RMB1=US$0.1507 (Nov 14)

 
 
Market analysis
 
Prices of CBOT January soy futures moved higher during early parts of the week but pared all gains before the week ended.
 
Soymeal transaction shrank during the period in review, falling 56% to 1.09 million tonnes. Nonetheless, crushers limited output to 1.72 million tonnes, hence helping to hold up the prices of soymeal while inventories dwindled 7% to 618,000 tonnes.
 
On average, soymeal prices edged lower 0.04% as price movements were limited.
 
 
Market forecast
 
Abundant soy imports will exert pressure on the soymeal market as crushers expand production in the coming period. Even as animal feed demand improves, prices of soymeal are less likely to surge tremendously under plentiful supplies.
 


 
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