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November 21, 2011
 
China Soymeal Weekly: Market shows signs of stabilising (week ended Nov 18, 2011)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices were stable to lower.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Nov 11
(RMB/tonne)

Price as of Nov 11
(RMB/tonne)

Price change
(RMB/tonne)

Heilongjiang

43

3,150

3,150

0

Liaoning

43

3,030

3,060

30

Hebei

43

2,950

2,950

0

Shandong

43

3,000

2,970

-30

Jiangsu

43

2,950

2,920

-30

Guangdong

43

2,950

2,930

-20

Prices are representative and are for reference only.
RMB1=US$0.1573 (Nov 21)


 
Market analysis
 
Although CBOT soy futures prices remained weak, traders and feed millers in China stocked soymeal inventories, albeit cautiously, believing that there was little scope for prices to move lower. Hence, soymeal prices showed signs of stabilizing over the week. 
  
 
Market forecast
 
The unstable global market, which results in weak CBOT soy futures prices, and the cautious mood of buyers will continue to limit the upward potential of soymeal market in China.
 

 


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