Animal Feed Ingredient Market Information In China On November 19, 2020
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Feed Ingredient Price List on November 19, 2020 | ||||
Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
Corn/Maize | 2480.24 | 2476.29 | +3.95 | RMB/MT |
Soybean Meal | 3260-3290 | 3240-3280 | +10-20 | RMB/MT |
Rapeseed Meal | 2460.00 | 2455.00 | +5.00 | RMB/MT |
Cotton Seed Meal | 2590.00 | 2590.00 | +0.00 | RMB/MT |
DDGS | 2298.00 | 2298.00 | +0.00 | RMB/MT |
Peruvian Steam Dried Fish Meal | 11000-11300 | 11000-11300 | +0.00 | RMB/MT |
Data Source: China Feedtrade Net Exchange Rate: 100USD=654.84RMB | ||||
Market Comments and Concern
Soybean Meal
The main strength’s 2101 future soybean meal contract was opened high but going lower in DCE(Dalian Commodity Exchange) on Thursday. The contract even reached up to 3194RMB per ton during the morning session. The main reasons are, market concern triggered by the drought weather in main producing areas in South America, and the confidence shored up by the significant breakthrough in the developing of covid-19 vaccine, as well as the improving soybean demand from China in 2021. As a result, the future soybean price in CBOT reached a record high in the past 4 years. Currently the supply in China is sufficient with the arrival of soybean at ports, and the inventory in oil mills is increasing from place to place. Therefore, both the prompt and future soybean meal price will be restricted.
Source: China Feedtrade Net
