October 20, 2008
 
China Soymeal Weekly: Prices continue to fall (week ended Oct 19, 2008)

 

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Price summary

 

Prices were lower in most regions. 

 

Weekly transacted prices of soymeal in China

Region

Protein content
(%)

Price as of Oct 12(RMB/tonne)

Price as of Oct 19 (RMB/tonne)

Price change(RMB/tonne)

Heilongjiang

43

3,250

3,000

-250

Liaoning

43

3,350

3,250

-100

Hebei

43

3,350

3,220

-130

Shandong

43

3,400

3,200

-200

Jiangsu

43

3,340

3,180

-160

Guangdong

43

3,330

3,080

-250

Prices are representative and are for reference only.
RMB1=US$0.1459 (Oct 20)

 
 

Market analysis

 

Sharp fall of CBOT and crude oil prices caused domestic soymeal prices to fall sharply.


Imported soy supplies were ample. Demand of locally produced soy was weak amid lower supplies.

 

 

Market forecast

 

Soymeal prices are expected to hover near RMB3,000/tonne in the near-term.


 

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