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News Alert

December 11, 2017

China Soymeal Weekly: Prices increase on higher demand (week ended Dec 11, 2017)
 
An eFeedLink Exclusive
 

Price summary

Prices were mostly higher.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Dec 4
(RMB/tonne)

Price as of Dec 11
(RMB/tonne)

Price change
(Percentage)

Heilongjiang

43%

3,000

3,000

0

Liaoning

43%

3,110

3,140

30

Hebei

43%

3,050

3,050

0

Shandong

43%

2,950

3,000

50

Jiangsu

43%

2,980

3,060

80

Guangdong

43%

2,970

3,040

70

Prices are representative and are for reference only.
RMB1=US$0.1440 (Dec 11)

 

Market analysis

Prices of CBOT January soy futures slid 0.46% during the week in review. Even as the market was concerned over soy production in South America due to adverse climates, ample availability of soy in the US held down price.

Nevertheless, weekly soymeal sales soared 247% to 747,500 tonne, perking up prices in China. With livestock feed demand expanding, feed millers were more willing to stock soymeal inventories, particularly as fishmeal prices have surged prominently lately.
 

Market forecast

China's soymeal market is expected to stay firm on stable demand. Should USDA lower its soy harvest projection for the US, soy futures prices will sure in the global market amid supply concerns, lifting Chinese soymeal prices more significantly.
 

 


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