Animal Feed Ingredient Market Information In China On March 23, 2021
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Feed Ingredient Price List on March 23, 2021 | ||||
Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
Corn/Maize | 2902.79 | 2915.37 | -12.58 | RMB/MT |
Soybean Meal | 3280-3380 | 3320-3410 | -30-40 | RMB/MT |
Rapeseed Meal | 2795.00 | 2805.00 | -10.00 | RMB/MT |
Cotton Seed Meal | 2830.00 | 2830.00 | +0.00 | RMB/MT |
DDGS | 2479.50 | 2479.50 | +0.00 | RMB/MT |
Peruvian Steam Dried Fish Meal | 11100-11300 | 11100-11300 | +0.00 | RMB/MT |
Data Source: China Feedtrade Net Exchange Rate: 100USD=650.36RMB | ||||
Market Comments and Concern
Soybean Meal
The future soybean price in CBOT was closed with vibration, due to the improved weather in Argentina and Brazil. Dragged by the rainfall, it is indicated that the importation of Brazil soybean to China from January to February decreased 1.03 million tons, while US soybean increased 6.10 million tons, compared with the same period of last year. As per AgRural the harvest of Brazil soybean is 59% compared with the same period of last year. However, the harvest was accelerated in the past days thanks to the dry weather. With the approaching of soybean from South America, the inventory at ports will be peaking up. Meanwhile, the stocking for aquaculture is yet massively conducted with the limited resumption of farming and some oil plants will run out of the warehouse. Therefore, it is predicted that soybean meal price will continue dropping. In the coming days, close attention shall be paid to the volume to reach China ports and the stocking progress at farming ends.
Source: China Feedtrade Net
