Animal Feed Ingredient Market Information In China On November 2, 2020
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Feed Ingredient Price List on November 2, 2020 | ||||
Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
Corn/Maize | 2473.18 | 2458.84 | +14.34 | RMB/MT |
Soybean Meal | 3240-3310 | 3230-3300 | +/-10-20 | RMB/MT |
Rapeseed Meal | 2440.00 | 2440.00 | +0.00 | RMB/MT |
Cotton Seed Meal | 2643.00 | 2643.00 | +0.00 | RMB/MT |
DDGS | 2291.00 | 2291.00 | +0.00 | RMB/MT |
Peruvian Steam Dried Fish Meal | 11800-12000 | 11800-12000 | +0.00 | RMB/MT |
Data Source: China Feedtrade Net Exchange Rate: 100USD=670.50RMB | ||||
Market Comments and Concern
Corn/Maize
Today corn price went slightly higher. With the ending harvest, the farmers are willing to sell corn as the price is well accepted. The supply may be accelerating in the future. The new corn harvest in major producing area is proceeding faster. Meanwhile, the farmers are willing to sell out as they need to repay loan before Spring Festival. With the imported corn and cereal as the replacement, the market supply is increasing to a certain extent. However, the demand for feed milling and deep processing remains powerful, and the corn processors, traders and SINOGRAIN intend to stock up, there is still seasonal supply issue. Hence, it is estimated that corn price surge hopefully may slow down by the end of October or the first half of November.
Source: China Feedtrade Net
