December 15, 2008
 
China Soymeal Weekly: Prices stabilize on reduced supplies (week ended Dec 12, 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 Dec 5 (RMB/tonne)

Price as of Dec 12 (RMB/tonne)

Price change(RMB/tonne)

Heilongjiang

43

2,950

2,800

-100

Liaoning

43

2,970

2,990

20

Hebei

43

2,960

2,950

-10

Shandong

43

3,000

2,980

-20

Jiangsu

43

3,000

3,000

0

Guangdong

43

2,980

2,980

0

Prices are representative and are for reference only.
RMB1=US$0.1461(Dec 15)
 
 

Market analysis

 

Soymeal prices were relatively stable in China as more crushers halted production. In Shangdong, more than half of the crushers had stopped crushing activities.

 

In the weeks ahead, soymeal deliveries via inland waterways will be affected by the falling water levels in winter. Entering January, ground deliveries will be affected by tight rail schedules as homeward bound commuters swarm the railway stations.

 
 

Market forecast

 

With soymeal supplies dropping substantially, prices will be more stable in the near term.


 

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