eFeedLink - China Soymeal Mid-Week: More crushers resume operation (Dec 23, 2008)

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December 24, 2008

China Soymeal Mid-Week: More crushers resume operation (Dec 23, 2008)

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Transacted prices were stable to higher in most regions during mid-week.

Soymeal transacted prices in China
Region	Protein content (%)	Price as of Dec 23 (RMB/tonne)
North-east China	ã€€
Heilongjiang	43	2,950
Liaoning	43	3,060
North China	ã€€
Hebei	43	3,070
East China	ã€€
Shandong	43	3,030
Jiangsu	43	2,930
South China	ã€€
Guangdong	43	3,000
Prices are representative and are for reference only. RMB1=US$0.1460 (Dec 24)

Stronger CBOT soy market over past two days lent support to soymeal prices in China. Consequently, prices in some regions rose by RMB50/tonne.

Meanwhile, more crushers have resumed operation in the coastal regions, thereby putting downward pressure on soymeal prices.

In the near term, soymeal prices in are seen stable to lower amid increased supplies.

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