January 11, 2017

 

China Soymeal Weekly: Prices fall prominently on excess supply (week ended Jan 9, 2017)

                                                                            

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Price summary

 

Prices moved lower.

 

Weekly transacted prices of soymeal in China
Region	Protein content (%)	Price as of Jan 2 (RMB/tonne)	Price as of Jan 9 (RMB/tonne)	Price change (Percentage)
Heilongjiang	43%	3,450	3,450	0
Liaoning	43%	3,530	3,440	-90
Hebei	43%	3,220	3,220	0
Shandong	43%	3,400	3,200	-200
Jiangsu	43%	3,380	3,250	-130
Guangdong	43%	3,330	3,180	-150
Prices are representative and are for reference only. RMB1=US$0.1444 (Jan 11)

 

Market analysis

 

CBOT soy March futures prices slid almost 1% during the week in review.

 

Total transaction volume of soymeal dropped prominently by 40,000 tonnes to 150,000 tonnes over the week amid slackened demand. This, together with higher crushing rates, which lifted output of soymeal by 1.35% to 1.8 million tonnes, dragged down prices by 2.8%.

Market forecast

 

 

 

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