Animal Feed Ingredient Market Information In China On November 9, 2020
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Feed Ingredient Price List on November 9, 2020 | ||||
Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
Corn/Maize | 2475.61 | 2462.71 | -1.45 | RMB/MT |
Soybean Meal | 3280-3310 | 3310-3360 | -30-50 | RMB/MT |
Rapeseed Meal | 2472.00 | 2482.00 | -10.00 | RMB/MT |
Cotton Seed Meal | 2638.00 | 2638.00 | +0.00 | RMB/MT |
DDGS | 2291.00 | 2291.00 | +0.00 | RMB/MT |
Peruvian Steam Dried Fish Meal | 11700-11800 | 11700-11800 | +0.00 | RMB/MT |
Data Source: China Feedtrade Net Exchange Rate: 100USD=661.23RMB | ||||
Market Comments and Concern
Soybean Meal
Last Friday the near-term contract price of US soybean dropped while forward contract price rose. Since the new administrative team of America may improve Sino-American economic and trade relations after taking office, and the status of strong oil and weak meal is remaining there, today the future soybean meal price in Dalian market obviously fell down. The prompt soybean meal price in China started decreasing mode.
Actually, that Biden was elected as US president will benefit the market. However, the market has bounced back for the news earlier. Therefore China market is probably running at its own pace in a short term, after all Biden is relatively rational and less capricious to market. Meanwhile, Biden’s policy shall be closely watched for a long term trend, considering the uncertainties.
Source: China Feedtrade Net
