Animal Feed Ingredient Market Information In China On March 03, 2021
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Feed Ingredient Price List on March 03, 2021 | ||||
Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
Corn/Maize | 2928.53 | 2921.42 | +7.11 | RMB/MT |
Soybean Meal | 3640-3750 | 3640-3730 | +20.00 | RMB/MT |
Rapeseed Meal | 2850.00 | 2830.00 | +20.00 | RMB/MT |
Cotton Seed Meal | 2980.00 | 2980.00 | +0.00 | RMB/MT |
DDGS | 2472.00 | 2472.00 | +0.00 | RMB/MT |
Peruvian Steam Dried Fish Meal | 11300-11600 | 11300-11600 | +0.00 | RMB/MT |
Data Source: China Feedtrade Net Exchange Rate: 100USD=645.65RMB | ||||
Market Comments and Concern
Soybean Meal
In contrast to the drop on Monday, the overnight US soybean surged, because of the market concern on bad weather in South America, such as drought weather in Argentina and excessive rainfall in Brazil. At present, around 20% of Brazil soybean was harvested, which accounted for 50% of the previous year progress. Brazil soybean exportation was greatly decreasing due to the delay in harvest, while US soybean is remaining dominant at global supply ends. However, the projected yield in Brazil may reach a record high volume of 133.00 million ton, apparently ensuring global soybean supply. Therefore, it is not easy for US soybean to increase the price sharply.
In China, the future soybean meal price in Dalian market went slightly stronger. Meanwhile, the prompt soybean meal price went rational, restricted by the supply capacity, ASF and the low amount of poultry and livestock on hand after Chinese New Year. After yesterday’s collapse, some traders’ offers increased 20.00-30.00 RMB per ton, but oil plants are apt to decreasing or keeping the price. Domestic soybean meal market will remain weak and fluctuating before the stock pressure and market expectation are improved. Currently it is not easy to expect a crash in soybean meal price since the US soybean cost is still high. There is still high expectation on the future soybean price, even though a good harvest would be expected in USA and Brazil.
Source: China Feedtrade Net
