Spot Prices for Jiusan Soybean Meal Hike in Dalian, Liaoning 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), Jiusan in Dalian, Liaoning prices 2,980 yuan/ton for its soybean meal(43% protein content) spots, increasing by 30 yuan/ton over yesterday, yet prices are negotiable. Contract basis upon delivery is M1801+210 from October 11th, M1801+180 from November 11th, M1801+160 from December 1st, M1801+160 from January 1st in the following year. The spread for soybean meal(45% protein content) is +90 yuan/ton. About 10,000 tons soybean meal were sold out yesterday upon contract basis M1801+210 from October 11th and M1801+180 from November 11th. Though 5,000 tons of soybean are processed each day with two-line operation, inventory pressure still exits since shipments are quite slow.
