Animal Feed Ingredient Market Information In China On September 26, 2023

 

Feed Ingredient Price List On September 26, 2023

 

Variety	Today AVG. Price(RMB)	Yesterday AVG. Price(RMB)	Growth	Unit
Corn/Maize	2842.26	2842.26	0	RMB/MT
Soybean Meal	4620	4590	+30	RMB/MT
Rapeseed Meal	3650	3660	-10	RMB/MT
Cotton Seed Meal	4125	4125	0	RMB/MT
DDGS	2833	2833	0	RMB/MT
Peruvian Steam Dried Fish Meal	17700-18500	17700-18500	0	RMB/MT
Wheat	3028.63	3027.79	+0.84	RMB/MT
Data Source: China Feedtrade Net Exchange Rate: 100USD=731.0400RMB

 

 

 

Market Comments and Concern

 

Corn/Maize

 

Corn prices adjusted within a narrow range on the 26th. Since the start of domestic directional rice auctions, auction transactions have been booming. Among them, 1.45 million tons of feed rice were sold last week, and some transactions were at a premium of 0-150 yuan/ton. The continued high auction transaction rate has given a certain positive boost to the corn spot market, but rice A large number of transactions will also replace the demand for feed corn in the later period. The expectation for China's corn harvest in 2023/24 has not changed. As the launch time of new season corn in the main production areas of Northeast China approaches, the pressure of new crops becomes increasingly apparent day by day. The probability of the average corn trading price fluctuating and falling will further increase. It is predicted that it will be from late September to early October. During the half-month period, corn prices are more likely to be generally weak and fluctuate. Looking further ahead, China's corn spot prices are generally weak and have a higher chance of correction during October-November. Pay attention to the weather in the production areas during the harvest and the possible impact of low-temperature frost in the later period.

 

 

DDGS

 

DDGS prices weakened on the 26th. Recently, the spot price of soybean meal has fluctuated and fallen. Feeding companies have a strong wait-and-see attitude. The performance of DDGS shipments is average. As the weather turns cooler, some alcohol plant units resume operation, DDGS production continues to increase, and alcohol companies' DDGS inventories have accumulated. In the short term, The price trend of DDGS is negative. From late September to early October, the operating rate of China's corn alcohol production enterprises was generally relatively stable, and DDGS production and supply continued to grow and supply continued to improve. The prices of raw corn and major plant protein meal continued to fall, and the support for DDGS prices continued to weaken. It is predicted that DDGS prices will be generally weak from late September to early October.

 

Soybean Meal

 

CBOT soybean futures prices rebounded from their lowest level in nearly eight weeks as rainfall in some U.S. producing areas over the weekend delayed soybean harvesting, and good soybean export demand also supported the soybean market. Although the demand for stocking by feed farming companies has been slow recently, soybean meal transactions have been light due to the strategy of buying up rather than buying down, and the rising market wait-and-see sentiment has kept soybean meal prices volatile and weak. However, yesterday's rebound in soybeans in the U.S. led to a rebound in domestic soybean meal prices. It is expected that the soybean meal market may have a chance to breathe, but it is difficult to change the overall weak operating trend.

 

Source: China Feedtrade Net