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December 17, 2016


China Soymeal Weekly: Prices consolidate while demand increases (week ended Dec 11, 2016)

  
An eFeedLink Exclusive

 

  
Price summary


Prices were stable to lower.

 

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%

3,450

3,450

0

Liaoning

43%

3,420

3,420

0

Hebei

43%

3,320

3,340

20

Shandong

43%

3,500

3,420

-80

Jiangsu

43%

3,460

3,400

-60

Guangdong

43%

3,340

3,400

60

Prices are representative and are for reference only.
RMB1=US$0.1442 (Dec 15)

   
          
Market analysis


CBOT soy futures prices remained stable over the week.


Demand for soymeal improved, lifting the weekly transaction volumes of major crushers by 20% to 1.38 million tonnes. However, with supplies ample, prices of soymeal stayed flat over the week.

 


Market forecast


Feed demand is poised to increase in the coming weeks due to pre-Chinese New Year stimulation. This will lend support to the soymeal market. Nonetheless, with soy availability abundant and the operation rates of crushers staying high, the upward scope of the market will be limited amid sufficient supplies.
 
 
 

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