Animal Feed Ingredient Market Information In China On October 23, 2020
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Feed Ingredient Price List on October 23, 2020 | ||||
Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
Corn/Maize | 2414.11 | 2411.74 | +2.37 | RMB/MT |
Soybean Meal | 3280-3380 | 3280-3390 | -10.00 | RMB/MT |
Rapeseed Meal | 2450.00 | 2455.00 | -5.00 | RMB/MT |
Cotton Seed Meal | 2648.00 | 2648.00 | +0.00 | RMB/MT |
DDGS | 2238.50 | 2238.50 | +0.00 | RMB/MT |
Peruvian Steam Dried Fish Meal | 11600-11800 | 11600-11800 | +0.00 | RMB/MT |
Data Source: China Feedtrade Net Exchange Rate: 100USD=667.03RMB | ||||
Market Comments and Concern
Soybean Meal
The overnight US soybean was closed higher. The US soybean exportation is still strong. The implantation of soybean in Brazil just finished 6.1%, less than 19.5% in the same period last year and the average rate of 17.3%. The soybean implantation rate was record low in the past 10 years, hence the market is anxious about the new season soybean failure in South America and the change of global soybean oversupply situation. Meanwhile, La Nina which may easily cause great reduction of soybean yield in Argentina, has been confirmed by international authorities. Therefore, the climate in South America caught more market attention, and CBOT soybean market price reached a new high level and remained strong.
In China, Dalian market and e-market went weak today. The prompt soybean meal price was not able to increase. However, considering the soybean production in South America and the continuous increasing of US soybean cost, the processors are willing to back the price.
Source: China Feedtrade Net
