Animal Feed Ingredient Market Information In China On November 12, 2020
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Feed Ingredient Price List on November 12, 2020 | ||||
Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
Corn/Maize | 2466.24 | 2467.95 | -1.71 | RMB/MT |
Soybean Meal | 3320-3350 | 3330-3360 | -10.00 | RMB/MT |
Rapeseed Meal | 2465.00 | 2468.00 | -3.00 | RMB/MT |
Cotton Seed Meal | 2613.00 | 2613.00 | +0.00 | RMB/MT |
DDGS | 2298.00 | 2298.00 | +0.00 | RMB/MT |
Peruvian Steam Dried Fish Meal | 11400-11500 | 11500-11600 | -100.00 | RMB/MT |
Data Source: China Feedtrade Net Exchange Rate: 100USD=662.36RMB | ||||
Market Comments and Concern
Soybean Meal
For the strong demand and constricted supply, overnight US soybean was closed higher again. In China, the Sino-America relation is hopefully to ease after Joe Biden was elected. Later on there will be more confidence for soybean supply. China imported 8.688 million tons of soybean in October, with a year-on-year growth of 40.55%. It is estimated that the monthly average import volume will be around 9 million tons in November and December.
Though the amount of swine on hand continued increasing, aquaculture is out of season. Hence the demand of protein raw material is decreasing, instead of increasing, and both the supply and requisitioning parties are apparently willing to wait and see the trend of price rise. But in the long term, the great decreasing of ending US soybean inventory caused a higher future price. Meanwhile, it is most possible that there will be massive fiscal incentive policy after Joe Biden takes office. As a result, the future soybean price may be further stimulated. And it is obviously to see a rise in prompt soybean meal price in the long term in China.
Source: China Feedtrade Net
