Animal Feed Ingredient Market Information In China On December 11, 2020
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Feed Ingredient Price List on December 11, 2020 | ||||
Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
Corn/Maize | 2546.03 | 2546.26 | -0.23 | RMB/MT |
Soybean Meal | 3080-3130 | 3090-3140 | -10.00 | RMB/MT |
Rapeseed Meal | 2450.00 | 2455.00 | -5.00 | RMB/MT |
Cotton Seed Meal | 2540.00 | 2540.00 | +0.00 | RMB/MT |
DDGS | 2277.50 | 2277.50 | +0.00 | RMB/MT |
Peruvian Steam Dried Fish Meal | 11400-11500 | 11400-11500 | +0.00 | RMB/MT |
Data Source: China Feedtrade Net Exchange Rate: 100USD=654.05RMB | ||||
Market Comments and Concern
Soybean Meal
The overnight US soybean price was closed lower as the USDA monthly report on supply and demand was disappointing. In the report, the US soybean carry-over inventory reduction is not as much as projected, while the soybean yield in Brazil and Argentina didn’t drop greatly. Therefore, the report is not as exciting as expected by the market. With the reducing hype on weather in South America, US soybean price may stay weak and vibrating.
Today the future soybean meal price in Dalian market went weaker, as a result the prompt goods price followed. It is predicted that the future soybean price and domestic prompt soybean meal price will bottom out in case of any good news from either China or other countries.
Source: China Feedtrade Net
