Soybean meal Price Fluctuation

By CnAgri2012-12-20 10:56:42 Print     On Dec. 19, 2012, the average wholesale price of soymeal is RMB4,167Yuan/MT, up 3.06% compared with last week. There were large amounts of unenforced soymeal contracts in different areas currently and large size feed enterprises had certain stocking. But with the surge of wheat price since October, many feed enterprises began to use corn as ingredients again, increasing use of protein soymeal accordingly, which no doubt is a great support to domestic soymeal spot market. American soybean basis dropped dramatically on 19th and export contracts of American soybean were cancelled. It is predicted domestic soymeal spot market shall keep fluctuation with weakness, while stronger than futures market.  (Table 3)

 

From “China Livestock and Feed Market Weekly Report”