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November 19, 2008

 

China Soymeal Mid-Week:  Weak demand pushes prices down (Nov 18, 2008)

 

An eFeedLink Exclusive 

 

 

Prices fell RMB20-50/tonne during mid-week to settle in the range of RMB3,200-3,300/tonne.

  

Soymeal transacted prices in China

Region

Protein content (%)

Price as of Nov 18 (RMB/tonne)

North-east China

 

Heilongjiang 

43

3,050

Liaoning 

43

3,240

North China 

 

Hebei 

43

3,240

East China 

 

Shandong 

43

3,300

Jiangsu 

43

3,250

South China 

 

Guangdong 

43

3,180

Prices are representative and are for reference only.
RMB1=US$0.1466 (Nov 19)

 

Soymeal prices consolidated lower amid light trade.

 

CBOT soy prices are likely to fall further. Consequently, soymeal prices in China are expected to soften amid lower production cost and weak demand. 
 
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