Spot Prices for Tianjin Jiusan Soybean Meal Go up on September 15th
Cofeed News: in view of robust export demands, soaring short covering and spots in market, prices for US soybean continue to rise from yesterday, the same trend going to soybean meal in DCE today. Today(on September 15th), Tianjin Jiusan offers 2,880 yuan/ton for soybean meal(43% protein content) spots, increasing by 30 yuan/ton over yesterday, yet prices are negotiable. No transaction was made yesterday when offered 2,820 yuan/ton. Basis upon delivery is M1801+120 from October 11th, M1801+110 from November 1st, M1801+90 from December 1st, M1801+90 from January 1st in the following year. The spread for soybean meal(45% protein content) is +110 yuan/ton, +140 yuan/ton for that of 46% protein content. Jiusan processes 2,500 tons soybean for one day by a single line, in addition, two ships loaded with soybean will arrive in September, and one ship in October.
