Animal Feed Ingredient Market Information In China On March 12, 2021
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| Feed Ingredient Price List on March 12, 2021 | ||||
Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
Corn/Maize | 2945.63 | 2946.95 | -1.32 | RMB/MT |
Soybean Meal | 3470-3500 | 3450-3500 | +20.00 | RMB/MT |
Rapeseed Meal | 2780.00 | 2780.00 | +0.00 | RMB/MT |
Cotton Seed Meal | 2850.00 | 2850.00 | +0.00 | RMB/MT |
DDGS | 2472.00 | 2472.00 | +0.00 | RMB/MT |
Peruvian Steam Dried Fish Meal | 11100-11500 | 11100-11500 | +0.00 | RMB/MT |
Data Source: China Feedtrade Net Exchange Rate: 100USD=648.45RMB | ||||
Market Comments and Concern
Soybean Meal
Driven by traders’ buying at a lower price, the overnight US soybean stopped dropping and was closed higher. In China, after the slump yesterday prompt soybean meal price turned stable and slightly bounced back in some regions. The soybean meal price will be greatly suppressed by weak demand, sufficient stock and high soybean oil price. Therefore, both the future and prompt goods prices are not optimistic yet in a short term. The market is adjusting after yesterday’s crash and waiting for a new market direction.
Source: China Feedtrade Net
