Animal Feed Ingredient Market Information In China On March 08, 2021
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Feed Ingredient Price List on March 08, 2021 | ||||
Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
Corn/Maize | 2954.21 | 2953.26 | +0.95 | RMB/MT |
Soybean Meal | 3680-3800 | 3580-3700 | +100.00 | RMB/MT |
Rapeseed Meal | 2880.00 | 2830.00 | +50.00 | RMB/MT |
Cotton Seed Meal | 2930.00 | 2930.00 | +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=647.95RMB | ||||
Market Comments and Concern
Soybean Meal
The worsening perspective of soybean supply in South America like disaster caused by rainfall in Brazil and drought weather in Argentina triggered the market’s concern. As a result, the future soybean price in CBOT continued bouncing back and was closed high last Friday with a continuous rise for 4 weeks.
The prompt soybean meal price in China surged again, driven by foreign markets. Though the lower volume to reach ports from March to April will be helpful for reducing inventory, the weak demand and strong soy oil market will suppress the soybean price. Therefore it is estimated that soybean meal price will not bounce back dramatically in a short term.
Source: China Feedtrade Net
