Spots Offers for Jiusan Soybean Meal Continue to Be Buoyant in Liaoning on September 25th
Cofeed News: affected by technical buying and robust exports, soybean futures index in November break through 200-day moving average. Meanwhile US soybean reached a record high among six weeks on last Friday night, accordingly, soybean meal futures in DCE today keep growing drastically. Today(on September 25th), Jiusan in Dalian, Liaoning offers 3,100 yuan/tonne for soybean meal(43% protein content) spots, up 30 yuan/tonne against last Friday’s 3,070 yuan/tonne, yet prices are negotiable and the basis stops to quote. The spread for soybean meal(45% protein content) is +130 yuan/tonne, +30 yuan/tonne for soybean meal of larger slices. No transaction was made last Friday for soybean meal(43% protein content). Approximately, 5,000 tons soybean are processed each day by two-line operation where delivery of goods is restricted and invoicing is paused for the moment.
