Soybean Meal Prices Rise with Futures in Qingdao and Chinatex (Rizhao) on September 15th
Cofeed News: owing to 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), spot prices for soybean meal with 43% protein content in Bohi, Qingdao rise to 2,820 yuan/ton, a rise of 20 yuan/ton over yesterday, yet prices are negotiable. About 20,000 tons soybean meal were sold out yesterday when offered 2,790 yuan/ton and 30,000 tons were sold out upon basis M1801+60 from October to December. About 10,000 tons of soybeans are processed everyday with two-line operation opened in Bohi.
Today(on September 15th), 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. The price for soybean meal spots with 46% protein content are 2,930, an increase of 10 yuan/ton over yesterday. Chinatex is now starting up, processing 4,000 tons soybean each day.
