Daily review on soybean meal: US soybean met a moderate rebound last night, the same trend going to soybean meal futures in DCE today. Coastal soybean meal prices range from 2,770 to 2,860 yuan/ton, a steady rise of 10-20 yuan/ton(Tianjin prices 2,860 yuan/ton, Shandong 2,830-2,850 yuan/ton, Jiangsu 2,790-2,810 yuan/ton, Dongguan 2830-2840 yuan/ton, Guangxi 2,770-2,790 yuan/ton). An impressive surging in commodity market down the line and robust exports of US soybean prop up US soybean to rebound coming after bad weather in South America to delay soybean sowing. 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. Given that, buyers are rushing to market to make stockpiling and the pace is going to be accelerated, which boosts soybean meal sales in these day albeit oil refineries hold out for higher prices. With large supply of soybean, good crush margin and resumed operation of oil factories, stocks for soybean meal keep growing. 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. Practically, 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 drop steadily, among which main prices in coastal areas stay at 2,300-2,340 yuan/ton with a decline of 10 yuan/ton over yesterday (Guangxi offers 2,300 yuan/ton, down 10 yuan/ton over yesterday; Guangdong 2,340 yuan/ton; Fujian has not reported yet). With a poor market for aquatic products, lower prices and massive supplies of soybean meal to replace rapeseed meal, prices cut in rapeseed meal later may be great with progressive drop in demand and bumper harvest of US soybean in market. Nevertheless, slight fluctuations will continue in a shot 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 78,000 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.However, pressure on fishmeal spots supplies are still large at home, hence a near-term sluggish tendency will remain in market.

    Daily review on soybean: today, prices for imported and distributed soybean remain firm, which settles at 3,380-3,410 yuan/ton at mains ports, relatively stable over yesterday. However, soybean surplus insufficiency and traders' unwillingness to sell out in lower prices at ports still prop up the prices and such trend is expected to remain with strong momentum in a short term. In addition, affected by an impressive rising in commodity market and exports, US soybean prices are supported in consideration of dry weather in Brazil and heavy rains in Argentine to affect the sowing. However, pressure on harvest continue to weigh on its prices, therefore, near-term fluctuations will happen to futures in US trading.

    Daily review on oils: affected by an impressive rising in commodity market and soybean export demands, beans in US trading ended the day higher yesterday, accordingly, oil futures in DCE today continue to fluctuate, the same going to domestic oil futures. Still, US soybean prices are supported after dry weather in Brazil and heavy rains in Argentine to affect the sowing. Pressure on harvest continues to weigh on its prices, therefore, fluctuations will be on futures in US trading in the near term. A surprising 2 Mln tons for one week is going to be reached for soybean crush in oil refineries and stockpiling on packaging oils is basically finished, for which oversupply is made obvious since the demand side struggles to keep pace. Particularly, pressure on spots market turns to be great. Though prices cut may come into sight after the thorough end of stocking and bumper harvest of US soybean in market, a steep decline may not happen to oils in a short term for strong exports in Malaysia and short supply of palm oil in China, whereas, frequent fluctuations may continue. Indeed, buyers can take hand-to-mouth purchasing for the moment, and wait for prices tumble to replenish the inventory.

    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 fluctuate at 10-50 yuan/ton, (Tianjin traders offer 6,400 yuan/ton, Rizhao traders 6,350-6,370 yuan/ton, Zhangjiagang traders 6,420 yuan/ton, Guangzhou traders Y1801-50 yuan/ton ).

    Today's palm oil: 24-degree palm oil prices in coastal areas are mostly between 5,860-6,000 yuan/ton, a rise of 20-40 yuan/ton(Tianjin traders offer 5,880-5,890 yuan/ton; Rizhao traders 6,000 yuan/ton; Zhangjiagang traders offer 6,000 yuan/ton, a rise of 40 yuan/ton; Guangzhou 5,860-5,890 yuan/ton, Xiamen 5,900 yuan/ton).

    Daily review on imported rapeseed oil: today, prices for imported rapeseed oil climb slightly, among which main prices for imported four-degree rapeseed oil upon crush in coastal areas stay at 6,630-6,840 yuan/ton, up 20 yuan/ton against yesterday(September basis for Maple in Fangchenggang, Guangxi reaches 1,801-200 yuan/ton; Yinxiang in Xiamen, Fujian stops to report; Chinatex in 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 steep decline may be 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 continue to fall steadily. 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 by 10-50 yuan/ton over yesterday. Corn prices at Jinzhou port, Liaoning keep stable, among which main prices for second-class old corn settle 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, remaining flat over yesterday. New corn planted in Huang-huai area, NC keeps growing in market, yet with sufficient supply of old corn from NE China, most enterprises engaging in deep processing hold a wait-and-see attitude and prefer hand-to-mouth purchasing to maintain basic inventory. In view 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. 

    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 1,670-1,800 yuan/ton at main ports, (Tianjin has not reported yet; Jiangsu offers 1,670-1,780 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 keep high later, such being the cases, barley prices in EC will edge up 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 by strategic grain reserve 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, the action of weighing on corn prices will also affect demands for barley and sorghum. Customs data show that sorghum imports have been growing for two consecutive months, besides, 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.