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 go on a moderate rebound. Today(on September 22nd), soybean meal is lifted with futures in Rizhao and Qingdao, in addition, affected by long-time machine halt projected in NC, buyers have rushed to Shandong to make purchases which boosts the soybean meal demands in Shandong. Yet, a near-term limitation on soybean meal delivery will happen to oil refineries in Shandong region.
Today(on September 22nd), the price for soybean meal spots with 43% protein content in Bohi, Qingdao is lifted to 2,900 yuan/ton, yet transaction price turns to be 2,880 yuan/ton, a rise of 20 yuan/ton over yesterday. About 7,000 tons were sold out yesterday when offered 2,860 yuan/ton. Overall, soybean stocks amount to 120,000 tons, and soybean meal stocks are 12,000 tons, among which 100,000 tons remained unimplemented in contract. Approximate 10,000 tons of soybeans are processed everyday with two-line operation opened in Bohi, particularly, operation will be continued during national holidays.
Today(on September 22nd), basis from October to January in 2018 stabilizes at M1801+70 for soybean meal(43% protein content) in Bunge, Rizhao, which keeps stable. Overall, soybean stocks amount to 78,000 tons yet with no soybean meal stocks, among which 30,000 tons remained unimplemented in contract. Bunge is now starting up, processing 3,000 tons soybean each day and delivery is set to be limited.
Today(on September 19th), the price for soybean meal spots with 43% protein content in Lanshan, Rizhao, Qingdao stays at 2,900 yuan/ton, yet basis upon delivery stays at M1801+80 from November to December. Overall, soybean stocks amount to 120,000 tons, and soybean meal stocks are 1,000 tons, among which 20,000 tons remained unimplemented in contract. Lanshan is now starting up, processing 6,000 tons soybean each day and delivery is set to be limited.
Today(on September 22nd), no spots prices are reported for soybean meal(43% protein content) in Chinatex, Rizhao, yet with 2,880 yuan/ton for contract prices upon delivery from October to January in 2018. Basis upon delivery stays at M1801+80 from November to December. Chinatex is now starting up, processing 4,000 tons soybean each day and delivery is set to be limited.
Today(on September 22nd), contract prices upon delivery for soybean meal(43% protein content) in Lingyunhai, Rizhao are 2,880 yuan/ton, increasing by 30 yuan/ton over yesterday. Basis stays at M1801+70 from November to December and the spread for soybean meal(46% protein content) is +150. Lingyunhai is now starting up, processing 4,000 tons soybean each day and delivery is set to be limited.
Today(on September 22nd), no prices are reported in Henglong, Rizhao for soybean meal. Henglong stops operation from September 16th , yet the boot time is unknown.
