Animal Feed Ingredient Market Information in China On August 16, 2021
Leave a message
Feed Ingredient Price List on August 16, 2021 | ||||
Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
Corn/Maize | 2775.00 | 2767.11 | +7.89 | RMB/MT |
Soybean Meal | 3630-3750 | 3560-3650 | +70-100 | RMB/MT |
Rapeseed Meal | 3030.00 | 2990.00 | +40.00 | RMB/MT |
Cotton Seed Meal | 3240.00 | 3220.00 | +20.00 | RMB/MT |
DDGS | 2420.00 | 2408.02 | +11.98 | RMB/MT |
Peruvian Steam Dried Fish Meal | 11100-11200 | 11100-11200 | +0.00 | RMB/MT |
Data Source: China Feedtrade Net Exchange Rate: 100USD=647.17RMB | ||||
Market Comments and Concern
Soybean Meal
The future soybean price at CBOT was closed higher for the accelerating exportation to China market and market concern on global vegetable oil supply. Moreover, the demand on US soybean may be increasing in the coming weeks since the price is already less than Brazil soybean price, especially the volume of Brazil soybean for exportation is almost exhausted.
In China the massive procurement of soybean meal by feed millers is ending and the delivery is slowing down. However, soybean meal inventory is still reducing due to the drop in total weekly volume of soybean processing. Meanwhile, soybean meal price will also be supported by the increased demand on animal feed as the temperature is going down. It is estimated that soybean meal price will remain slightly strong, following US soybean price.
Source: China Feedtrade Net
