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December 22, 2008
 
China Soymeal Weekly: Firmer prices amid tight supplies (week ended Dec 19, 2008)

 

An eFeedLink Exclusive
 
 

Price summary

 

Prices were higher in most regions.

 

Weekly transacted prices of soymeal in China

Region

Protein content
(%)

Price as of Dec 12 (RMB/tonne)

Price as of Dec 19 (RMB/tonne)

Price change(RMB/tonne)

Heilongjiang

43

2,800

2,950

150

Liaoning

43

2,990

3,030

40

Hebei

43

2,950

3,020

70

Shandong

43

2,980

2,980

0

Jiangsu

43

3,000

3,000

0

Guangdong

43

2,980

3,000

20

Prices are representative and are for reference only.
RMB1=US$0.1461 (Dec 22)
 
 
Market analysis
 

Soymeal supplies remained tight in the eastern region due to low crushing rates. Crushers in the northern and southern regions have mostly resumed operation but limited their crush volumes.


In the northeastern region, soy bean prices rose by about RMB100 as several crushers started operations to meet demand.


Meanwhile, soy oil prices showed signs of weakening as most buyers were done with their procurements.

 

 

Market forecast

 

Prices of soymeal in China are seen higher in the near term.


 

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