Offers for Jiusan Soybean Meal Spots in Tianjin Continue to Rise on September 22nd
Cofeed News: affected by technical buying and stronger-than-expected exports in US, US soybean and soybean meal continued to end the day higher last night, accordingly, soybean meal futures in DCE today rebound moderately going forward. Today(on September 22nd), Jiusan offers 2,940 yuan/ton for soybean meal(43% protein content) spots, increasing by 40 yuan/ton against yesterday’s 2,900 yuan/ton, yet prices are negotiable. About 7,000 tons were sold out yesterday when pricing 2,870 yuan/ton, 5,000 tons sold for October basis M1801+110, 5,000 tons sold for November basis M1801+90, and 10,000 tons sold for basis M1801+80 from November to January in 2018. Jiusan processes 5,000 tons soybean for one day by two-line operation, but a full stop will be dated on September 30th to October 6th owing to National Day in China. One ship loaded with soybean had arrived on September 16th.
