Today(on September 19th), trends for Chinese animal and plant protein, oils & oilseeds and grains are shown as follows

    Daily review on soybean meal: US soybeans prices plunged last night, however, soybean meal futures rise slightly today in DCE. Soybean meal spots remain stable with slight fluctuations, yet turnover turns to be few. Coastal soybean meal prices range from 2,760 to 2,840 yuan/ton, a fluctuation of 10-20 yuan/ton over yesterday, (Tianjin prices 2,840 yuan/ton, Shandong 2,780-2,810 yuan/ton, Jiangsu 2,780-2,800 yuan/ton, Dongguan 2,840-2,860 yuan/ton, Guangxi 2,760-2,790 yuan/ton). With good crush margin and increasing resumed operation of oil refineries, stocks of soybean meal in coastal oil refineries are increased to 0.84 Mln tons yet with poor demands by environmental inspections, up 1.6% from a week earlier and a rise of 45% over the same period last year, which restricts rebound of soybean meal prices to some degree. An weaker-than-expected growth rate happens to US soybean in these days, with the rate falling to 59%. Dry weather in Brazil and excessive rainfall in Argentina may slow down soybean sowing, such being the cases, rebound for US soybean prices in a short-term will be small, and overall, the tendency will fluctuate with strong momentum. With the upcoming holidays in China, quite a few oil refineries are projected to stop operation, besides, the 19th National People's Congress will be scheduled in Beijing on October 18th, which will further delay the boot time for oil refineries in NC. Given that, feed enterprises are flocking to market to make stocking, which props up soybean meal sales in these day. Overall, soybean meal spots will keep fluctuations in a short term. Bumper harvest in US soybean is a forgone conclusion, generally, new US soybean will enter the market in large quantities when prices cut may happen to US soybean, and at the same time, downward pressure on soybean meal may be enlarged. Buyers are encouraged to buy in when prices cut to maintain the inventory, but chasing high is not recommended.

    Daily review on imported rapeseed meal: today, prices for imported rapeseed meal are mixed, among which main prices in coastal areas stay at 2,290-2,340 yuan/ton with a fluctuation of 10-20 yuan/ton(Guangxi offers 2,310 yuan/ton, a drop of 20 yuan/ton; Guangdong 2,340 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, pressure on rapeseed prices later may be great with progressive decline in its demands and bumper harvest of US soybean in market. Nevertheless, slight fluctuations will continue in a short term for insufficient stocks. 

    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 9,100 yuan/ton, 10,000-10,200 yuan/ton for Japanese SD with 67% protein content, 10,300-10,500 yuan/ton for super steam fishmeal with 68% protein content, all of which suffer from a drop of 100 yuan/ton over yesterday, yet prices are negotiable. Port stocks: Hangpu has 77,000 tons, Fuzhou 36,000 tons, Shanghai 85,000 tons, Tianjin 1,000 tons, Dalian 9,000 tons, Fangchenggang 1,000 tons, and other ports 4,000 tons. Fishing: till September 17th, 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. In the short term, imported fishmeal are high in stocks in China yet with poor demands, where oversupply is made obvious, such being the cases, domestic fishmeal may continue to be sluggish in market. Attention should be paid to later resource survey for anchovy in Peruvian area and preselling in next quarter.

    Daily review on soybean: today, prices for imported and distributed soybean remain stable, which stays at 3,300--3,450 yuan/ton at mains ports, remaining flat over yesterday. Affected by commercial inspections at Shandong ports, pressure on imported and distributed soybean prices are obvious. However, soybean surplus insufficiency and traders' unwillingness to sell out in lower at Shandong ports still prop up the prices and such trend is expected to remain with strong momentum in a short term. An weaker-than-expected growth rate happens to US soybean , with the rate falling to 59%, additionally, dry weather in Brazil and excessive rainfall in Argentina may slow down soybean sowing, such being the cases, futures in US trading will fluctuate with strong momentum in a short term.

    Daily review on oils: oil futures in US trading plunged last night, correspondingly, oil futures today in DCE encounter fluctuations, with some soybean oil spots falling by 10-30 yuan/ton, some palm oil increasing by 20 yuan/ton, where turnover are few for the time being. An weaker-than-expected growth rate happens to US soybean , with the rate falling to 59%, what’s more ,dry weather in Brazil and excessive rainfall in Argentina may slow down soybean sowing, such being the cases, US soybean will fluctuate with strong momentum in a short term. A surprising 2 Mln tons for one week is going to be reached for soybean crush in oil refineries, yet with the end of stocking before holidays, oils may risk in prices rebound for eased terminal demands. Overall, oil prices in a short term will fluctuates with futures. Prevention taken should be strengthened in the medium term to cope with prices rebound after the end of stocking and bumper harvest of US soybean in market. Practically, buyers can take hand-to-mouth purchasing and keep an eye on market.

    Today's soybean oil: main prices for one-grade soybean oil in coastal areas stay at 6,300-6,450 yuan/ton, some fluctuating by 10-30 yuan/ton. (Tianjin traders offer 6,420-6,430 yuan/ton; Rizhao traders 6,390 yuan/ton; Zhangjiagang traders 6,450 yuan/ton; Guangzhou traders 6,300 yuan/ton).

    Today's palm oil: 24-degree palm oil prices in coastal areas are mostly between 5,890 and 6,000 yuan/ton, some rising by 20 yuan/ton(Tianjin traders offer 5,910-5,920 yuan/ton, a rise of 20 yuan/ton; Rizhao traders offer 6,020, an increase of 20 yuan/ton; Zhangjiagang traders offer 6,000 yuan/ton; Guangzhou 5,890-5,920 yuan/ton; Xiamen 5,950 yuan/ton, an increase of 20 yuan/ton).

    Daily review on imported rapeseed oil: today, prices for imported rapeseed oil keep steadily, among which main prices for imported four-degree rapeseed oil upon crush in coastal areas stay at 6,610-6,700 yuan/ton, remaining flat 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). Albeit a slight drop of rapeseed oil stocks in SC, 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 oils later after the end of stocking and bumper harvest of US soybean in market, but sharp decrease in prices may hard to reach in a short term, therefore, buyers can hold a wait-and-see attitude for the time being and wait for prices rebound to maintain the inventory.

    Daily review on corn: today, domestic corn prices remain stable with downward tendency. Main prices for corn acquisition in Shandong enterprises engaging in deep processing stay at 1,720-1,840 yuan/ton, part of which continue to fall 10-20 yuan/ton over yesterday. Corn prices at Jinzhou port, Liaoning keep stable, among which main prices for second-class old corn keep at 1,660 yuan/ton, 1,590-1,620 yuan/ton for third-class old corn and 1,700-1,710 yuan/ton for some new corn with 14.5%-15% moisture, all of which remain flat over yesterday. Prices for moist corn with 30% moisture range from 1,330 to 1,350 yuan/ton. Corn prices at Bayuquan port remain stable, most of which are 1,650 yuan/ton (second-class old corn), remaining flat over yesterday. Prices for some drying new corn with 14.5%-15% moisture are 1,700 yuan/ton, remaining flat over yesterday. Second-class corn prices at Shekou port, Guangdong stay at 1,780-1,800 yuan/ton, a rise of 10 yuan/ton on the higher price against yesterday, while, 1,680-1,700 yuan/ton for corn used for poultry feed. New corn in NC keeps growing in market, yet with sufficient supply of old corn, most enterprises engaging in deep processing hold a wait-and-see attitude and prefer hand-to-mouth purchasing to maintain basic inventory. In spite of slow recovery of breeding industry and poor demands on feeds, feeds supplied are increasingly diverse, given that, corn prices later may be weighed down with continuous large supply in market. In a short term, tightened supply of good corn in the region will prop up corn prices in NE China before new corn enters massively in market, where the falling tendency of corn prices will be eased.

    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 last Friday(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 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 continues to be good and new autumn corn in Huanghuai area, NC is being harvested from south to north, with auction corn supported by policy soaring to over 3 Mln tons, corn supplies are still great in market. Seeing that massive new corn flocks into the market, most enterprises engaging deep processing prefer hand-to-mouth purchasing to maintain the basic inventory in case of prices risks. Yet, plummeting corn prices will also affect demands for barley and sorghum. Customs data show that sorghum imports have been growing for two consecutive months, in addition, 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.