Soybean Meal Prices Rise Steadily in Qingdao, Chinatex and Lingyunhai on September 14th
Cofeed News: affected by new export demands and a series of technical buying up, US soybean begin to rise up from last night when short covering happens to November contract after its four-day decline, correspondingly, soybean meal prices today in DCE start to hike slightly. Today(on September 14th), Lingyunhai in Rizhao, Shandong offers 2,800 yuan/ton for soybean meal(43% protein content), 20 yuan/ton up over yesterday, and about 1,000 tons soybean meal were sold out yesterday when offered 2,780 yuan/ton. Basis upon delivery today between November to December stabilizes at M1801 +80 for soybean meal(43% protein content). It offers 2,930 yuan/ton for soybean meal(46% protein content). Lingyunhai is now starting up, processing 4,000 tons soybean each day.
Today(on September 14th), Chinatex in Rizhao, Shandong has not reported the spot price for soybean meal spots with 43% protein content. Basis upon delivery from November to January in the following year stays at M1801+70 and no transaction was made yesterday upon such basis. Chinatex is now starting up, processing 4,000 tons soybean each day.
Today(on September 14th), prices for soybean meal spots with 43% protein content in Bohi(Qingdao, Shandong) stays at 2,800 yuan/ton, remaining flat over yesterday, yet prices are negotiable. Yesterday, no transaction was made when offered 2,800 yuan/ton. About 10,000 tons of soybeans are processed everyday with two-line operation opened in Bohi.