March 7, 2017
China Soymeal Weekly: Prices consolidate amid increased demand (week ended Mar 6, 2017)
An eFeedLink Exclusive
Price summary
Prices moved within a narrow range.
|
Weekly transacted prices of soymeal in China | ||||
|
Region |
Protein content (%) |
Price as of Feb 27 |
6-Mar |
Price change |
|
Heilongjiang |
43% |
3,450 |
3,450 |
0 |
|
Liaoning |
43% |
3,220 |
3,260 |
40 |
|
Hebei |
43% |
3,120 |
3,150 |
30 |
|
Shandong |
43% |
3,080 |
3,100 |
20 |
|
Jiangsu |
43% |
3,180 |
3,150 |
-30 |
|
Guangdong |
43% |
3,130 |
3,090 |
-40 |
|
Prices are representative and are for reference only. | ||||
Market analysis
Prices of CBOT soy May futures gained 1.2% over the week.
In Dalian Commodities Exchange, soymeal contracts for the same month increased 1.85%.
China soymeal prices stabilised while weekly transaction volume doubled to 814,700 tonnes. Nonetheless, with the poultry sector staying weak under the threat of bird flu epidemic, soymeal market lacked the momentum to recover strongly.
Meanwhile, March soy imports are projected at 3 million tonnes.
Market forecast
China's soymeal market should remain soft as the demand for animal fed stays limited. Unless the global soy futures prices rise tremendously, domestic soymeal prices are unlikely to rebound in the coming weeks.
