Animal Feed Ingredient Market Information In China On October 28, 2020
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Feed Ingredient Price List on October 28, 2020 | ||||
Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
Corn/Maize | 2425.95 | 2423.84 | +2.11 | RMB/MT |
Soybean Meal | 3260-3360 | 3280-3380 | -20.00 | RMB/MT |
Rapeseed Meal | 2455.00 | 2455.00 | +0.00 | RMB/MT |
Cotton Seed Meal | 2648.00 | 2648.00 | +0.00 | RMB/MT |
DDGS | 2276.00 | 2238.50 | +37.50 | RMB/MT |
Peruvian Steam Dried Fish Meal | 11800-12000 | 11800-12000 | +0.00 | RMB/MT |
Data Source: China Feedtrade Net Exchange Rate: 100USD=671.95RMB | ||||
Market Comments and Concern
Soybean Meal
The overnight US soybean price was closed lower as the bull positions were actively closing out.
Today both the e-market and Dalian market remained a slightly weak trend. The prompt soybean meal price decreased 20RMB per ton. The yield prospect is improved as the recent rainfall in South America is helpful for the soybean implantation. It is announced by AgRural on Monday that the new crop soybean implantation has been completed 23% in Brazil by last Thursday. The US soybean harvest is ending and the annual productivity increased 20 million tons than last year.
In China, due to the increasing of soybean and soybean meal arrival at ports, and the inventory, the prompt soybean meal price fell down slightly. However, there is very limited space for oil plants to reduce price as the US soybean price stayed at high level and the processing deal with Brazil soybean was under deficit. In the same time, the amount of swine on hand resumed increasing in China, resulting in a stronger demand on soybean meal. Moreover, the demand from China and La Nina climate still attract much market attention though there is rainfall in soybean producing area in Brazil. Hence, it is not easy to watch a great rise or fall in soybean meal price in a short term.
DDGS
Today DDGS price went higher because of the insufficient supply of new corn and the further increased purchasing price offered by deep processing companies. Meanwhile, the constant high price of protein meal also supported the DDGS price to stay at a higher level.
Source: China Feedtrade Net
