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Livestock & Feed Market

November 28, 2018
 
China Soymeal Weekly: Buyers withhold buying, market weakens (week ended Nov 26, 2018)
 
An eFeedLink Exclusive
 

Price summary
 
Prices continued to fall.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of
Nov 19
(RMB/tonne)

Price as of
Nov 26
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

3,420

3,260

-160

Liaoning

43%

3,420

3,300

-120

Hebei

43%

3,260

3,260

0

Shandong

43%

3,330

3,320

-10

Jiangsu

43%

3,280

3,250

-30

Guangdong

43%

3,300

3,270

-30

Prices are representative and are for reference only.
RMB1=US$0.1438 (Nov 28)


 
Market analysis
 
Over the week, prices of CBOT January soy futures closed lower by 1.3%. .
 
Hog feed producers were not keen to stock soymeal as the disease situation showed no signs of improving. With China and US presidents set to meet soon during the G20 summit, buyers stood on the side lines in anticipation of a favourable outcome of the meeting.
 
Prices of soymeal weakened 1.7% on average.
 
 
Market forecast
 
Feed producers will not be motivated to increase soymeal purchases as usages are slow. Prices are seen soft before the US-China meeting during the G20 summit.

 

 

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