Daily review on soybean meal: prices for US soybean and soybean meal in DCE begin to rebound, at the same time, prices for domestic soybean meal today also rise steadily with increased turnover. Coastal soybean meal prices range from 2,760 to 2,820 yuan/ton, a steady rise of 10-20 yuan/ton(Tianjin prices 2,820 yuan/ton, Shandong 2,770-2,800 yuan/ton, Jiangsu 2,760-2,780 yuan/ton, Dongguan 2810-2830 yuan/ton, Guangxi 2,760-2,790 yuan/ton). Technology rebounds on US soybean help soybean meal to embrace a small rebound as well. Yet, with strong USD and estimated increase of soybean yield in USDA reports, higher prices for US soybean will be curbed. Seeing that more than 16 Mln tons of soybean will arrive at ports in October and November, stocks for soybean meal may continue to be gained with good crush on soybean and resumed operation of oil factories in succession, in addition, impacts of environmental inspections on breeding industry still exist, which will limit the demand for meal. Accordingly, rebounds for soybean meal prices will be small and slight fluctuations are bound to continue in a short term. Bumper harvest in US soybean is a forgone conclusion, generally, new US soybean will enter the market in large quantities from the second half of September to the first twenty days of October when harvest floor will happen to US soybean and downward pressure on soybean meal may be enlarged. Buyers are encouraged to buy in when prices cut to maintain the inventory today, besides, shipping space should be arranged well.

     Daily review on imported rapeseed meal: today, prices for imported rapeseed meal drop steadily, among which main prices in coastal areas stay at 2,280-2,330 yuan/ton with a decline of 10 yuan/ton over yesterday(Guangxi offers 2,300 yuan/ton, Guangdong 2,330 yuan/ton, a drop of 10 yuan/ton, Fujian has not reported yet.). With the end of peak season for aquatic products, lower prices and massive stocks of soybean meal in market and quite a few alternatives for rapeseed meal, seasonal pressure on rapeseed supply may be obvious with bumper harvest of US soybean in market. Meanwhile, risks may be great for rapeseed meal prices cut later, but slight fluctuations will continue in a shot term for insufficient stocks. Buyers can take the hand-to-mouth purchasing for the time being and manage the shipping space well.

     Daily review on fishmeal: today, prices for imported fishmeal fall slightly, but prices are negotiable upon transaction and shipments at ports today are general. Fishmeal price in Peru ordinary SD with 65% protein content ranges from 9,000 to 9,200 yuan/ton, remaining flat over yesterday; 10,000-10,300 yuan/ton for Japanese SD with 67% protein content, falling 100 yuan/ton; 10,300-10,600 yuan/ton for super steam fishmeal with 68% protein content, a drop of 100 yuan/ton over yesterday, yet prices are negotiable. Port stocks: Hangpu has 75,000 tons, Fuzhou 35,000 tons, Shanghai 83,000 tons, Tianjin 1,000 tons, Dalian 9,000 tons, Fangchenggang 1,000 tons, and other ports 4,000 tons. Fishing: till September 11th, about 9,384 tons of fish have been caught in southern Peru in B season over 17 years, accounting for 1.82% of the total volume; fishing quota for this season is 515,000 tons, among which 50,5616 tons remain unfinished. Imported fishmeal are high in stocks at present, and many domestic plants for fishmeal production resume operation in succession, yet sellers are under great pressure due to falling demand for fishmeal, accordingly, most feed enterprises prefer the hand-to-mouth purchasing, such being the cases, domestic fishmeal market may continue to be sluggish in a short term. Attention should be paid to later resource survey for anchovy in Peruvian area.

     Daily review on soybean: today, prices for imported and distributed soybean remain stable, which stays at 3,340--3,440 yuan/ton at mains ports, relatively stable over yesterday. On account of gradual reduction of stocks at Shandong ports and uncertain arrival of later soybean, traders now are reluctant to sell out in lower prices, which supports the prices, and such trend is expected to remain with strong momentum in a short term. Additionally, in light of the coming technical rebounds after continuous prices cut in US soybean, ever-accelerating pace for Chinese imports and impacts of weather on plating progress in South America, US soybean is expected to fluctuate in a short term within certain ranges. Downward pressure will be obvious after massive US soybean in market.

     Daily review on oils: today (on September 14th), 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. However, the arbitrage of buying soybean oil to sell soybean meal comes to an end, then prices for US soybean oil are dragged down. Soybeans and oils in DCE today price up slightly over former settlement, but a remarkable soaring tendency is registered compared with previous closing, at the same time, domestic oil spots also follow the tendency to price up. On account of the coming technical rebounds after continuous prices cut in US soybean, ever-accelerating pace for Chinese imports and impacts of weather on plating progress in South America, US soybean is expected to fluctuate in a short term. Strong fundamentals in palm oil boost its prices, in that oils prices will fluctuate upward in a short term. Given that more than 16 Mln tons of soybean will arrive at ports in Octorber and November, a series of rebound pressure may be obvious after massive US soybean in market or the end of preseason stocking in the medium term with good crush margin and resumed operation of oil factories in succession. Practically, buyer are not encouraged to chase high prices.

    Today's soybean oil: main prices for one-grade soybean oil in coastal areas stay at 6,330-6,480 yuan/ton, rising by 10-60 yuan/ton. (Tianjin traders offer 6,460-6,480 yuan/ton, Rizhao traders 6,430 yuan/ton, Zhangjiagang traders 6,480 yuan/ton, Guangzhou traders 6,330-6,350 yuan/ton ).

 

    Today's palm oil: 24-degree palm oil prices in coastal areas are mostly between 5,920-6,000 yuan/ton, a rise of 50-90 yuan/ton(Tianjin traders offer 5,930-5,940 yuan/ton, a rise of 90 yuan/ton; Rizhao and Xiamen traders have not reported the prices; Zhangjiagang traders offer 6,000 yuan/ton, a rise of 50 yuan/ton; Guangzhou 5,920-5,930 yuan/ton a rise of 70 yuan/ton).

    Daily review on imported rapeseed oil: today, prices for imported rapeseed oil drop steadily, among which main prices for imported four-degree rapeseed oil upon crush in coastal areas stay at 6,590-6,750 yuan/ton, a rise of 20-30 yuan/ton over yesterday(September basis for Maple, Fangchenggang, Guangxi reaches 1,801-200 yuan/ton; Yinxiang, Xiamen, Fujian stops to report; Chinatex, Zhanjiang, Guangdong 1,801-300 yuan/ton). Soybean oil stocks are still large in quantities but with low prices, which takes the priority in market share. A series of back pressure may happen to rapeseed oil prices later after the end of preseason stocking and bumper harvest of US soybean in market. It's expected to fluctuate with futures in a short term. Buyers should be more cautious when chasing high prices.

    Daily review on corn: today, domestic corn prices continue to drop in NC. Main prices for corn acquisition in Shandong enterprises engaging in deep processing stay at 1,720-1,840 yuan/ton, most of which continue to fall 10-30 yuan/ton over yesterday. Corn prices at Jinzhou port, Liaoning keep stable, among which main prices for second-class old corn keep at 1,640-1,680 yuan/ton, which remain flat over yesterday, 1,590-1,620 yuan/ton for third-class old corn and 1,710 yuan/ton for some new corn. Corn prices at Bayuquan port remain stable, most of which are 1,630-1,650 yuan/ton (second-class old corn), remaining flat over yesterday. Second-class corn prices at Shekou port, Guangdong stay at 1,780-1,790 yuan/ton, remaining flat over yesterday. Weather in NC turns fine and total amount of new corn are dramatically increased, most grain enterprises prefer hand-to-mouth purchasing before massive new corn in market. Indeed, with strong willingness to buy in, a rapid decline happens to corn prices in NC in those days. New corn in Huanghuai producing areas, NC will be in harvest from south to north and be into the market in late September, yet with low demands for corn, downward pressure on corn prices is bound to happen with sufficient supply in later market. Nevertheless, the falling tendency may be relieved overall due to tightened supply of good corn in market and strongly estimated reduction of new corn yield, which in turn will support corn prices to some degree.

    Daily review on sorghum and barley: today, prices for imported sorghum remain stable which stay at 1,790-2,170 yuan/ton at main ports, remaining flat over yesterday(Tianjin offers 1,910-2,170 yuan/ton, Jiangsu 1,790-1,800 yuan/ton, Shanghai 1,800-1,980 yuan/ton, Guangdong 1,800-1,820 yuan/ton). At the same time, prices for imported barley also keep stable mostly which stay at 1,650-1,800 yuan/ton at main ports(Tianjin has not reported yet, Jiangsu offers 1,650-1,780 yuan/ton, Shekou port in Guangdong 1,670-1,760 yuan/ton). Weather in North China turns fine in this week, and the arrival of grains are increasing in factories. It's said that ships loaded with corn will arrive at ports in Shandong region, of which three ships will stop at Weifang, accordingly, some enterprises in Shandong begin to push down purchase prices in succession. New corn is going to enter the market and autumn corn in Huanghuai area, NC will be harvested from south to north in late September, but with soaring turnover of corn in the store, supply of corn in NC becomes tightened, which will also affect demands for barley and sorghum at ports. Customs data show that imports of sorghum have been growing for two consecutive months, besides, the arrival of sorghum and barley shipments in August and September is expected to rise to 1 Mln tons. Pressure of sorghum and barley in market fundamentals has been obvious, hence an overall downward pressure will continue in a short term.