Animal Feed Ingredient Market Information in China On June 29, 2023
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Feed Ingredient Price List On June 29, 2023
| Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
|---|---|---|---|---|
| Corn/Maize | 2806.47 | 2796.78 | +9.69 | RMB/MT |
| Soybean Meal | 3960 | 3980 | -20 | RMB/MT |
| Rapeseed Meal | 3495 | 3500 | -5 | RMB/MT |
| Cotton Seed Meal | 3675 | 3675 | 0 | RMB/MT |
| DDGS | 2645.5 | 2645.5 | 0 | RMB/MT |
| Fish Meal | 17950 | 17950 | 0 | RMB/MT |
| Wheat | 2801.69 | 2799.45 | +2.24 | RMB/MT |
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Data Source: China Feedtrade Net Exchange Rate: 100USD=723.9871RMB |
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Market Comments and Concern
Corn/Maize
Corn prices rose on the 29th. The distribution of policy grain in Northeast China has been strengthened. Although the base price is 20-40 yuan/ton lower than the market price, it is generally sold at a premium of 20-80 yuan/ton, which has boosted the market atmosphere and the price of corn has risen rapidly. . From late June to July, China's aged corn stocks will continue to be depleted, while demand will continue to grow slightly. At the same time, as the new-season wheat market continues to grow but the supply of standard-quality wheat declines, wheat prices will gradually stop falling in July after bottoming out in late June. Therefore, we predict that in the second half of June -During July, the corn price will generally fluctuate strongly, combined with the impact of this year’s summer drought, it is predicted that from July to September, the overall corn price will have a higher probability of rising, but due to the large amount of malt and low-quality wheat being fed Use to affect its increase.
DDGS
On the 29th, the price of DDGS was relatively firm. Recently, the demand in the aquaculture market has increased slightly. Feed companies have increased their rigid demand stocking, and their enthusiasm for receiving goods from downstream has increased. The performance of DDGS shipments has been better. In addition, some alcohol factories are planning to overhaul DDGS devices. The operating rate of alcohol companies is expected to decrease later. Alcohol companies have strong sentiments to stand up prices. It is expected that DDGS prices may have a slight upward trend in the short term.
Soybean Meal
The CBOT soybean futures market closed down, with the benchmark period closing down about 2.30% as the weather forecast showed that there will be rain in the US Midwest soybean producing areas later this week and next week to boost production prospects, triggering short selling. In the later period, with the arrival of the peak period of soybean arrival in Hong Kong, the increase in soybean meal production after the increase in supply and the increase in inventory will bring pressure on the price of soybean meal. However, due to the decline in crushing profits after the increase in costs and the good demand for feed farming and the optimistic market outlook, soybean meal spot prices will remain high and fluctuate before the U.S. Department of Agriculture will release the U.S. soybean planting area statistics report and quarterly inventory report at the end of the month.
Source: China Feedtrade Net
