Cofeed News: affected by drastically rising US soybean prices last Friday and soybean meal futures in DCE today(on September 25th), prices for soybean meal continue to pick up in Rizhao and Qingdao, additionally, in consideration of long-time machine halt projected in NC, buyers have rushed to Shandong to make purchases which boosts the demands in Shandong. Yet, a near-term limitation on soybean meal delivery will happen to oil refineries in Shandong region.
Today(on September 25th), the price for soybean meal spots with 43% protein content in Bohi, Qingdao is lifted to 2,930 yuan/tonne, a rise of 30 yuan/tonne over last Friday’s 2,900, yet prices are negotiable. About 8,000 tonnes were sold out last Friday when offered 2,880-2,900 yuan/tonne upon transaction. Overall, 10,000 tonnes of soybeans are processed everyday with two-line operation opened in Bohi, notably, operation will be continued during national holidays.
Today(on September 25th), basis settles at M1801+80 upon delivery from October to January in 2018 for soybean meal(43% protein content) in Bunge, Rizhao, increasing by 10 yuan/tonne, M1805+70 from April to July in 2018. Bunge is now starting up, processing 3,000 tonnes soybean each day, notably, operation will be continued during national holidays and delivery is set to be limited.
Today(on September 25th), the price for soybean meal(43% protein content) spots is 2,920 yuan/tonne in Chinatex, Rizhao, up 40 yuan/tonne over last Friday. Basis upon delivery stays at M1801+80 from November to December. Chinatex is now starting up, processing 4,000 tonnes soybean each day, notably, operation will be continued during national holidays and delivery is set to be limited.
