Animal Feed Ingredient Market Information In China On April 28, 2021
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Feed Ingredient Price List on April 28, 2021 | ||||
Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
Corn/Maize | 2832.58 | 2831.00 | +1.58 | RMB/MT |
Soybean Meal | 3460-3630 | 3530-3700 | -70.00 | RMB/MT |
Rapeseed Meal | 2885.00 | 2900.00 | -15.00 | RMB/MT |
Cotton Seed Meal | 2960.00 | 2980.00 | -20.00 | RMB/MT |
DDGS | 2448.50 | 2448.50 | +0.00 | RMB/MT |
Peruvian Steam Dried Fish Meal | 11300-11500 | 11300-11500 | +0.00 | RMB/MT |
Data Source: China Feedtrade Net Exchange Rate: 100USD=648.53RMB | ||||
Market Comments and Concern
Soybean Meal
After the soybean price reached the record high level since June of 2013, farmers are more willing to sell out and the long positions of investment funds closed out after making profit. Correspondingly the future soybean price at CBOT was closed lower.
Influenced by the drop in US soybean price, soybean meal price from oil plants generally decreased 70.00 RMB per ton. As the imported soybean cost is reducing due to the drop in US soybean price and soybean volume to arrive at China ports is increasing, soybean meal supply will be looser. It is estimated that soybean meal price will remain slightly weak.
Source: China Feedtrade Net
