Rebound of Soymeal Price Faced Obstructions

By CnAgri2013-07-12 11:44:57 Print Soymeal：On July 10th, 2013, the average wholesale price of soymeal is RMB3928Yuan/MT, up 0.35% compared with last week. Currently, domestic soymeal market is bearish. It is predicted soybean arrivals shall exceed 14 million MT for the first time in June and July, but feed and breeding markets are not satisfactory, which no doubt is the main obstruction for rebound of soymeal price. At zero o’clock on July 12th, the USDA shall release the latest monthly report of supply and demand. Before that, domestic soymeal spot market shall in general see consolidation within cabinet and shall go down later. So the purchase pace should be well grasped.  (Table 6)



From “China Livestock and Feed Market Weekly Report”