Wholesale Price of Soymeal on June 26th

By CnAgri2013-06-28 14:18:56 Print Soymeal：On June 26th, 2013, the average wholesale price of soymeal is RMB4030Yuan/MT, down 0.85% compared with last week. Arrivals of imported soybeans continued increasing before the end of June, which put pressure on operating rate of coastal oil plants and sales. Plus with significant worsening of global financial market, both buyers and sellers were cautious. It is predicted soymela spot price shall go down later. But in short terms, as international soybean supply is tight and contango and backwardation increased instead of declining, causing high cost for soybean processing of domestic oil plants, which played bottom supports to the declining Dalian soymeal. (Table 3)

 

From “China Livestock and Feed Market Weekly Report”