December 24, 2008

China Soymeal Mid-Week: More crushers resume operation (Dec 23, 2008)

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Transacted prices were stable to higher in most regions during mid-week.
 

Soymeal transacted prices in China

Region

Protein content (%)

Price as of Dec 23 (RMB/tonne)

North-east China

 

Heilongjiang 

43

2,950

Liaoning 

43

3,060

North China 

 

Hebei 

43

3,070

East China 

 

Shandong 

43

3,030

Jiangsu 

43

2,930

South China 

 

Guangdong 

43

3,000

Prices are representative and are for reference only.
RMB1=US$0.1460 (Dec 24)
 
Stronger CBOT soy market over past two days lent support to soymeal prices in China. Consequently, prices in some regions rose by RMB50/tonne.

Meanwhile, more crushers have resumed operation in the coastal regions, thereby putting downward pressure on soymeal prices.

In the near term, soymeal prices in are seen stable to lower amid increased supplies.

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