November 28, 2011
 
China Soymeal Weekly: Weak market sentiments drag down prices (week ended Nov 25, 2011)
 
An eFeedLink Exclusive

 
Price summary
 
Prices were lower.
 

Weekly transacted prices of soymeal in China

Region

Protein content (%)

Price as of Nov 18
(RMB/tonne)

Price as of Nov 25
(RMB/tonne)

Price change
(RMB/tonne)

Heilongjiang

43

3,150

3,100

-50

Liaoning

43

3,060

2,960

-100

Hebei

43

2,950

2,820

-130

Shandong

43

2,970

2,820

-150

Jiangsu

43

2,920

2,830

-90

Guangdong

43

2,930

2,800

-130

Prices are representative and are for reference only.
RMB1=US$0.1569 (Nov 28)

 
 
Market analysis
 
Weak sentiments in the global market amid economic uncertainties had continued to suppress CBOT soy prices, while domestically, slack feed demand decimated the sales of soymeal. Consequently, China's soymeal market registered significant falls after the apparent stabillising of prices in the previous week.
 
 
Market forecast
 
Soymeal prices are expected to be weak as the global economic turmoil and uncertain outlook of the feed and livestock industry dampens the confidence of buyers.
 
 


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