Soymeal Market to Go Strong in Short Terms

By CnAgri2013-09-23 11:45:46 Print Soymeal：On Sept. 18th, 2013, the average wholesale price of soymeal is RMB4360Yuan/MT, up 0.93% compared with last week. Due to decrease of soybean arrivals, operating rate of domestic oil plants continued decrease since August. Domestic soymeal supply is tight and the market is predicted to remain strong in short terms supported by gloomy oil market trend and recovery of feed demand. However, if the weather condition is good in US soybean producing areas and US soybean is free from early frost, the yield is likely to continue increasing. Market speculation then will turn focus from weather to market supply, the market risk brought by which should be cautioned.  (Table 3)



From “China Livestock and Feed Market Weekly Report”