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December 10, 2008

China Soymeal Mid-Week:  Prices lower on weak demand (Dec 9, 2008)

An eFeedLink Exclusive 
 

Transacted prices were lower in most regions as at mid-week, settling in the range of RMB2,850-2,950/tonne.
 

Soymeal transacted prices in China

Region

Protein content (%)

Price as of Dec 9 (RMB/tonne)

North-east China

 

Heilongjiang 

43

2,850

Liaoning 

43

2,940

North China 

 

Hebei 

43

2,950

East China 

 

Shandong 

43

2,960

Jiangsu 

43

2,870

South China 

 

Guangdong 

43

2,950

Prices are representative and are for reference only.
RMB1=US$0.1455 (Dec 10)

CBOT soy prices surged as U.S. stock markets rebounded on December 8. Soymeal price quotes in China rose in response the next day; however, deals were concluded at lower prices.

China's soymeal prices are likely to weaken in the near term as demand shows no signs of improvement.

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