Animal Feed Ingredient Market Information In China On November 3, 2020
Leave a message
Feed Ingredient Price List on November 3, 2020 | ||||
Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
Corn/Maize | 2469.58 | 2473.18 | -3.60 | RMB/MT |
Soybean Meal | 3220-3290 | 3240-3310 | -20.00 | RMB/MT |
Rapeseed Meal | 2445.00 | 2440.00 | +5.00 | 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=669.57RMB | ||||
Market Comments and Concern
Soybean Meal
The overnight soybean price was closed slightly lower because of technical selling and American presidential election. The soybean implantation rate in Brazil has increased from 23% to 42% since last week as the delayed rainfall is very necessary for soybean implantation. The speeding-up of soybean implantation relieved market concern on the new crop soybean yield in Brazil and restrained US soybean price from bouncing back. The worsening epidemic in Europe and US affected soybean demand, meanwhile American presidential election also affected global economy. It is predicted that US soybean future price may not increase or obviously decrease in the first half of November. In China the prompt soybean supply is enough, but the importation cost is lifting. Therefore it is very hard to watch a big price drop. It is estimated that the prompt soybean meal price in China may fall down to a certain extent. Besides, it is apparent that American presidential election result will affect the price trend.
Source: China Feedtrade Net
