Animal Feed Ingredient Market Information in China On August 25, 2021
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Feed Ingredient Price List on August 25, 2021 | ||||
Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
Corn/Maize | 2766.74 | 2766.21 | +0.53 | RMB/MT |
Soybean Meal | 3560-3700 | 3540-3650 | +20-50 | RMB/MT |
Rapeseed Meal | 3015.00 | 3015.00 | +0.00 | RMB/MT |
Cotton Seed Meal | 3270.00 | 3270.00 | +0.00 | RMB/MT |
DDGS | 2420.32 | 2420.33 | -0.01 | RMB/MT |
Peruvian Steam Dried Fish Meal | 11100-11200 | 11100-11200 | +0.00 | RMB/MT |
Data Source: China Feedtrade Net Exchange Rate: 100USD=647.28RMB | ||||
Market Comments and Concern
Soybean Meal
The further increased future crude oil price drove soybean oil price to increase by 3%, stimulating soybean market. Meanwhile, the decreased distinguished rate, and possible severe heat and draught weather at the heart of Midwest indicated by weather forecast, triggered market concern on the yield. The procurement by China buyers also improved soybean exportation. As a result. The future soybean price at CBOT was closed higher.
In China, the volume of soybean pressing has been increasing while soybean meal delivery is slowing down and the inventory is increasing as the logistics is gradually getting right and the stocking by feed millers and farms is completed. However, soybean meal price may go stronger since the local soybean meal cost is lifted due to the surge in future US soybean price and the improving demand.
Source: China Feedtrade Net
