December 13, 2011
China Soymeal Weekly: Market lacks momentum amid subdued demand (week ended Dec 9, 2011)
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Price summary
Prices were higher.
|
Weekly transacted prices of soymeal in China | ||||
|
Region |
Protein content (%) |
Price as of Dec 2 |
Price as of Dec 9 |
Price change |
|
Heilongjiang |
43 |
3,100 |
3100 |
0 |
|
Liaoning |
43 |
2,960 |
2,980 |
20 |
|
Hebei |
43 |
2,900 |
2,900 |
0 |
|
Shandong |
43 |
2,850 |
2,850 |
0 |
|
Jiangsu |
43 |
2,850 |
2,800 |
-50 |
|
Guangdong |
43 |
2,820 |
2,840 |
20 |
|
Prices are representative and are for reference only. | ||||
Market analysis
Soymeal prices consolidated after the recent week's rise. Reluctant to accumulate high stocks, most buyers withheld purchases after securing sufficient supplies.
This year's soy import of China is estimated at 5.20 million tonnes, almost 300,000 tonnes below last year's level, due to decimated feed demand.
Market forecast
With port soy inventories high and another 500,000 tonnes expected to reach China's shores in December, excess supplies of soy and consequently soymeal will weigh on soymeal market.
