Daily review on soybean meal: US soybeans prices plunged last night, accordingly, soybean meal futures meet stagflation today in DCE. Domestic soybean meal spots are weighed down with futures, yet turnover turns to be few. Coastal soybean meal prices range from 2,750 to 2,840 yuan/ton, a decline of 10-20 yuan/ton over yesterday, (Tianjin prices 2,840 yuan/ton, Shandong 2,800-2,820 yuan/ton, Jiangsu 2,780-2,800 yuan/ton, Dongguan 2,830-2,840 yuan/ton, Guangxi 2,760-2,780 yuan/ton). Affected by technical selling and favorable rainfall to come in Brazil, US soybean prices continue to plunge. With good crush margin and resumed operation of oil factories in spite of slow recovery of breeding industry by environmental inspections, stocks for soybean meal keep growing, which will render its price to drop slightly for the present. In consideration of the coming holidays in China, quite a few oil refineries are projected to stop operation, besides, 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 though high prices offered by oil refineries. Overall, soybean meal will keep fluctuations with futures in a short term. Bumper harvest in US soybean is a forgone conclusion, generally, prices cut may happen to US soybean when it enters the market in large quantities, and in the meantime, downward pressure on soybean meal may be enlarged. Buyers are encouraged to buy in when prices cut to maintain the inventory, but more attention should be paid when chasing high prices.

    Daily review on imported rapeseed meal: today, prices for imported rapeseed meal are mixed, among which main prices in coastal areas stay at 2,300-2,340 yuan/ton with a steady growth over yesterday(Guangxi offers 2,310 yuan/ton; Guangdong 2,340 yuan/ton; Fujian has not reported yet). With a poor market for aquatic products, lower prices and massive stocks of soybean meal to replace rapeseed meal, prices cut in rapeseed meal later may be great with progressive decline in demand 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, offers for imported fishmeal keep firm, yet 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 remain flat over yesterday, yet prices are negotiable. Port stocks: Hangpu has 77,000 tons, Fuzhou 36,000 tons, Shanghai 86,000 tons, Tianjin 1,000 tons, Dalian 9,000 tons, Fangchenggang 1,000 tons, and other ports 4,000 tons. Fishing: till September 18th, 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. Rumor goes that the first survey for fish resource in Peru is not ideal, which further strengthens traders’ mind on higher prices for fishmeal in China. However, supplies of domestic fishmeal are still large at hand, hence the sluggish market in a short term is quite hard to change.

    Daily review on soybean: today, prices for imported and distributed soybean keep firm, which stays at 3,370-3,470 yuan/ton at mains ports, an increase of 10-20 yuan/ton over yesterday. Corn and soybean sowing progress turns better due to technical selling and favorable weather in Brazil producing areas, which exerts great pressure on US soybean. Nevertheless, US soybean in a short term will keep fluctuations for much-needed imports in China. Affected by commercial inspections at Shandong ports, restrictions on imported and distributed soybean prices are made obvious. However, soybean surplus insufficiency and traders' unwillingness to sell out in lower at ports still prop up the prices and such trend is expected to remain with strong momentum in a short term.

    Daily review on oils: today(on September 20th), affected by technical selling and favorable rainfall to come for the crop growth in Brazil, US soybean prices continued to plunge last night, yet an active arbitrary of buying soybean oil and selling soybean meal props up the US soybean oil prices. Oils in DCE today keep fluctuating where most oils spots at home are dragged down. A surprising 2 Mln tons for one week is going to be reached for soybean crush in oil refineries and packaging oils stockings are basically finished. Given that, oil refineries fail to rise the prices for the overall eased demands and few need of bulk oil in consumers. Generally, oil spots in a short term will fluctuate with futures. Though downward pressure may be enlarged after the end of stocking and bumper harvest of US soybean in market, a sharp prices cut may not happen to oils in a short term. Practically, buyers can take hand-to-mouth purchasing for the moment.

    Today's soybean oil: main prices for one-grade soybean oil in coastal areas stay at 6,290-6,420 yuan/ton, part of which decrease by 10-50 yuan/ton, yet few increase by 10-20 yuan/ton, (Tianjin traders offer 6,410-6,420 yuan/ton, Rizhao traders 6,380 yuan/ton, Zhangjiagang traders 6,400 yuan/ton, Guangzhou traders 6,290 yuan/ton ).

    Today's palm oil: 24-degree palm oil prices in coastal areas are mostly between 5,850 and 5,960 yuan/ton, a decline of 20-40 yuan/ton(Tianjin traders offer 5,890-5,900 yuan/ton, a drop of 20 yuan/ton; Rizhao traders have not reported the prices; Zhangjiagang traders offer 5,960 yuan/ton, a decline of 40 yuan/ton; Guangzhou 5,850-5,880 yuan/ton; Xiamen 5,900yuan/ton, a decline of 20 yuan/ton ).

    Daily review on imported rapeseed oil: today, prices for imported rapeseed oil keep firm, among which main prices for imported four-degree rapeseed oil upon crush in coastal areas stay at 6,630-6,850 yuan/ton, remaining stable 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). Soybean oil stocks are still large in quantities yet with low prices, taking the priority in market share. A series of prices cut may happen to oils later after the end of stocking and bumper harvest of US soybean in market, but a 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 1,800 yuan/ton, keeping growing with strong momentum. New autumn corn planted in Huang-huai area, NC keeps growing in market, yet with sufficient supply, 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, prices for seasonal corn later may be probably weighed down with continuous large supply of new corn and existing old corn in market. Whereas, short supply of good corn in the region will still prop up corn prices before new corn enters massively in market for old corn takes the leading in NE China, in that falling tendency of old 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 increase steadily, mostly offered 1,670-1,800 yuan/ton at main ports, (Tianjin has not reported yet; Jiangsu offers 1,670-1,780 yuan/ton, rising by 10 yuan/ton; Shekou port in Guangdong 1,670-1,760 yuan/ton). Barley supplies in circulation at Nantong ports become tightened, additionally, costs for barley will be high later, such being the cases, barley prices in EC will rise slightly at ports in these days. Weather continues to be good and new autumn corn in Huang-huai area, NC is being harvested and being in market, with auction corn supported by policy soaring to over 3 Mln tons, corn supplies are still great in market. Seeing that new corn flock into the market, most enterprises engaging deep processing prefer hand-to-mouth purchasing to maintain the basic inventory in case of 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 upward growth is going to be restricted.