Soybean Meal Prices in Qingdao, Lingyunhai, Bunge and Xinbang on September 18th
Cofeed News: owing to profits taking, soybeans prices in US trading plunged last Friday, correspondingly, soybean meal prices today in DCE also meet stagflation. Today(on September 18th), Lingyunhai in Rizhao, Shandong decreases its offer for soybean meal(43% protein content) to 2,820 yuan/ton, 10 yuan/ton decline against 2,830 yuan/ton on last Friday, yet prices are negotiable. Basis between November to December stabilizes at M1801 +80. The spread for soybean meal(46% protein content) is +150 yuan/ton. No transaction was made for soybean meal(43% protein content) last Friday when offered 2,800 yuan/ton. Lingyunhai is now starting up, processing 3,000 tons soybean each day.
Today(on September 18th), Xinbang in Rizhao offers M1801+80 for soybean meal(43% protein content) as its September basis, rising by 10 yuan/ton. Xinbang is now starting up, processing 3,000 tons soybean each day.
Today(on September 18th), basis for soybean meal(43% protein content) in Bunge, Rizhao stays at M1801+70 from October to January in the following year which increases by 10 yuan/ton. Bunge is now starting up, processing 3,000 tons soybean each day.
Today(on September 18th), spot prices for soybean meal spots with 43% protein content in Bohi, Qingdao stays at 2,820 yuan/ton, remaining flat over last Friday, yet prices are negotiable. About 7,000 tons were sold out last Friday when offered 2,800-2,810 yuan/ton. About 10,000 tons of soybeans are processed everyday with two-line operation opened in Bohi.
