Spot Prices for Jiusan Soybean Meal Remain Stable in Dalian, Liaoning on September 13th
Cofeed News: today(on September 13th), Jiusan in Dalian, Liaoning prices 2,950 yuan/ton for its soybean meal(43% protein content) spots, which remains flat over yesterday, yet prices are negotiable and the basis stops to quote. The spread for soybean meal(45% protein content) is +90 yuan/ton. No transaction for soybean meal(43% protein content) was made yesterday. Though 5,000 tons of soybean are processed each day with two-line operation, inventory pressure still exits since shipments are quite slow. With bad news in USDA report and a concern for remarkable downward pressure when massive US soybean enters the market, buyers engaged in market show great caution about the trading, such being the cases, turnover of soybean meal today is expected to be low.
