Animal Feed Ingredient Market Information In China On December 29, 2020
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Feed Ingredient Price List on December 29, 2020 | ||||
Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
Corn/Maize | 2560.79 | 2552.89 | +7.90 | RMB/MT |
Soybean Meal | 3180-3300 | 3180-3310 | -10.00 | RMB/MT |
Rapeseed Meal | 2590.00 | 2600.00 | -10.00 | RMB/MT |
Cotton Seed Meal | 2535.00 | 2535.00 | +0.00 | RMB/MT |
DDGS | 2263.50 | 2263.50 | +0.00 | RMB/MT |
Peruvian Steam Dried Fish Meal | 11400-11600 | 11400-11600 | +0.00 | RMB/MT |
Data Source: China Feedtrade Net Exchange Rate: 100USD=654.51RMB | ||||
Market Comments and Concern
Soybean Meal
The overnight US soybean price dropped as the long positions exit after making profit. As per the weather forecast, there will be more rainfall in most of Brazil while very few in most of Argentina. The status in Brazil is generally still better Argentina.
Following the foreign market, Dalian market went weak today as well. Meanwhile, e-market remained slightly weak. The prompt soybean meal turned stable after the bounce yesterday. It is estimated that the price may go weak again from the end of December, 2020 to the beginning of January, 2021, after the stocking around the New Year’s Day. However, the price will most probably rise again in the last half January, 2021 because of the massive stocking before the Spring Festival.
Source: China Feedtrade Net
