Animal Feed Ingredient Market Information In China On December 01, 2020
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Feed Ingredient Price List on December 01, 2020 | ||||
Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
Corn/Maize | 2519.26 | 2507.05 | +12.21 | RMB/MT |
Soybean Meal | 3140-3160 | 3160-3200 | -20-40 | RMB/MT |
Rapeseed Meal | 2470.00 | 2480.00 | -10.00 | RMB/MT |
Cotton Seed Meal | 2550.00 | 2550.00 | +0.00 | RMB/MT |
DDGS | 2290.50 | 2290.50 | +0.00 | RMB/MT |
Peruvian Steam Dried Fish Meal | 11000-11500 | 11000-11500 | +0.00 | RMB/MT |
Data Source: China Feedtrade Net Exchange Rate: 100USD=659.21RMB | ||||
Market Comments and Concern
Soybean Meal
Future soybean price in CBOT collapsed on Monday because of the weather improvement in South America and intention to quit after making profit. During last weekend, the rainfall in Argentina and Southwest Brazil eased the drought. As a result, US soybean price dropped sharply after the rise was stopped. The US soybean market price may remain dropping if there is no new factor beneficial to the market.
In China, the processors are more willing to back the soybean meal price, though there is requirement to halt machines by the end of the month. However, the existing high inventory of prompt soybean meal plus the slump in US market, caused a more remarkable drop in prompt soybean meal quotation. It is estimated that there will be slight drop in prompt soybean meal price at the beginning of December. But in the long term a rise could still be expected because of the high cost.
Source: China Feedtrade Net
