Today ( Sept. 20th), the market for meals in China is shown as follows:
Soybean meal: Last night US soybean performed its technical rebounds. Today meals on DCE edge up. And domestic soybean meal spots also go up in price and attract little turnover. The prices in coastal areas range from 3,260 to 3,320 yuan/tonne, a steady rise of 10-20 yuan/tonne against yesterday (Tianjin 3,310, Shandong 3,260-3,300, Jiangsu 3,280-3,320, Dongguan 3,330-3,320, Guangxi 3,300-3,320). Currently, the demand from poultry and aquaculture is fairly good, pushing soybean meal stock to see a three-consecutive-week fall. And forward soybean will have supply shortage as trade war persists on and even become aggravated, so oil mills are positive to laster market. Under such circumstances, soybean meal will keep going up in price. However, the contagious African swine fever will be bearish to later consumption, before which Chinese government has encouraged to use low-protein feed and reduce added ratio of soybean meal. In addition, soybean meal has widened its price difference from mixed meal, which may increase the demand for the later. Therefore, soybean meal will be restricted in the short run and may follow futures to see frequent fluctuations. Buyers can just wait and see.
Imported rapeseed meal: Prices for imported rapeseed meal fluctuate in a steady state, among which prices in coastal areas range from 2,440 to 2,480 yuan/tonne up 10-30 yuan/tonne (Great Ocean in Fangchenggang offers 2,440, stable; Fuzhiyuan in Dongguan, Guangdong 2,480, stable; Zhangzhou Chinatex, Fujian 1901+150 upon basis). As poultry products consumption is increasing before double holidays and aquaculture is still in peak season, while the price gap between soybean meal and rapeseed meal has been enlarged; therefore demands for rapeseed meal is multiplied. Besides, the formula ratio of rapeseed meal has also been raised for market’s concern over tight soybean supply from December to February incurred from trade spats, and oil mills are still propping up prices for a bullish later market. So rapeseed meal price will see no slump as trade war persists on and will extend its upward trend in fluctuation. But African swine fever is accelerating its spread, plus heavy stocks of soybean meal and rapeseed meal, rapeseed meal may follow futures to have frequent fluctuations narrowly. Buyers can just buy on a hand-to-mouth basis.
Cottonseed meal: Cottonseed meal price fails to continue its upward trend and keeps stable today, for its demand is still unobserved, especially when live hogs in breeding is being cut down by the contagious African swine fever. But last night, US soybean performed technical rebounds. And today meals on DCE edge up, followed by soybean meal spots to increase by 10-30. Additionally, the tight supply of cottonseed meal under growing consumption on poultry products and peak season of aquaculture, cottonseed meal price is predicted to go up in fluctuation in the short run. So buyers can just buy on demand.
Imported fishmeal: Today, imported fishmeal is quoted steadily, being traded with limited price negotiations but performing well in port shipment generally. Northern port: Peruvian ordinary SD fishmeal with 65% protein content is 10,600-10,700 yuan/tonne; Peruvian Japanese SD fishmeal with 67% protein content is 11,800-11,900 yuan/tonne; Peruvian super SD fishmeal with 68% protein content is 12,000-12,100 yuan/tonne. Southern port: Peruvian ordinary SD fishmeal with 65% protein content is 10,700 yuan/tonne; Peruvian Japanese SD fishmeal with 67% protein content is 11,800 yuan/tonne; Peruvian super SD fishmeal with 68% protein content is 12,000 yuan/tonne. Stocks at port: Huangpu 54,000 tonnes, Fuzhou 37,000 tonnes, Shanghai 51,000 tonnes , Tianjin 1,000 tonnes, Dalian 5,000 tonnes, Fangchenggang 1,000 tonnes and 4,000 tonnes at other ports. Spot quotations (FOB) in foreign market keep stable: Peruvian ordinary SD fishmeal with 65% protein content is quoted at 1,360 USD/tonne, and 1,630 USD/tonne for super SD fishmeal with 68% protein content. Chilean ordinary fishmeal with 65% protein content is quoted at 1,510 USD/tonne, prime with 68% protein content is 1,620 USD/tonne. Short-term market may keep stable and firm under small stocks, satisfactory shipments and firm foreign markets.
(USD $1=CNY 6.86)
