Prices for Soybean Meal in Rizhao, Shandong Meet Slight Drops on September 26th
Cofeed News: it’s said that higher-than-expected soybean yield in early harvest is registered in central and western regions in China, besides, rains are expected to come in Brazil. US soybean prices were plunged last night, the same trend going to soybean meal prices in DCE today. Given that, contract prices upon delivery in October for soybean meal(43% protein content) in Lingyunhai, Rizhao today are weighed down to 2,900 yuan/tonne, decreasing by 20 yuan/tonne over yesterday. Basis stays at M1801+80 from November to December which remains firm. No transaction was made yesterday when offered 2,920 yuan/tonne contract prices upon delivery in October, by contrast, 2,000 tons were sold out when offered M1801+80(N-D) Lingyunhai is now starting up, processing 4,000 tons soybean each day and delivery is set to be limited.
