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December 31, 2008
 
China Soymeal Mid-Week: Bullish CBOT, improved demand fuel price hike (Dec 30, 2008)
 
An eFeedLink Exclusive 
 
 
Transacted prices were stable to higher in most regions during mid-week.
 

Soymeal transacted prices in China

Region

Protein content (%)

Price as of Dec 30 (RMB/tonne)

North-east China

 

Heilongjiang 

43

3,150

Liaoning 

43

3,260

North China 

 

Hebei 

43

3,260

East China 

 

Shandong 

43

3,280

Jiangsu 

43

3,100

South China 

 

Guangdong 

43

3,200

Prices are representative and are for reference only.
RMB1=US$0.1460 (Dec 31)

Coinciding with a rallying CBOT soy market, demand for soymeal in China picked up as feed millers replenished their depleting inventories.
 
Consequently, soymeal prices rose RMB140-210/tonne over the past two days.
 
Soymeal prices in China are seen firm in the near term. 

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