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December 23, 2011
 
China Soymeal Weekly: Prices tick up on CBOT soy gains (week ended Dec 23, 2011)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices were higher.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Dec 16
(RMB/tonne)

Price as of Dec 23
(RMB/tonne)

Price change
(RMB/tonne)

Heilongjiang

43

3,050

3,060

10

Liaoning

43

2,980

3,000

20

Hebei

43

2,840

2,930

90

Shandong

43

2,800

2,820

20

Jiangsu

43

2,760

2,820

60

Guangdong

43

2,760

2,780

20

Prices are representative and are for reference only.
RMB1=US$0.1578 (Dec 23)

 
 
Market analysis
 
China's soymeal prices ticked up over the week, tracking higher CBOT soy amid South American weather concerns.
 
However, the rebound was capped by large domestic soy supplies, with December imports estimated at around six million tonnes, as well as weaker-than-expected restocking efforts, as feed millers worried that the post-festive feed demand would be poor.      
 

Market forecast
 
With demand staying tepid and short-term supplies set to rise as crushing rates pick up, soymeal prices lack the support to push higher in the coming week. 
 

 


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