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Offers for Jiusan Soybean Meal Spots in Tianjin Keep Growing on October 9th

2017-10-09 www.cofeed.com
    Cofeed News: US soybeans prices registered upward during national holidays in light of robust exports but delayed harvest and alarming weather in South America, by contrast, soybean meal prices in DCE today start to rebound. Today(on October 9th), Jiusan offers 3,020 yuan/tonne($455/tonne) for soybean meal(43% protein content) spots, a rise of 20 yuan/tonne against September 30th, 2,980 yuan/tonne($449/tonne) upon transaction during national holidays. The spread for soybean meal(45% protein content) is +160 yuan/ton, +200yuan/ton for that of 46% protein content. Jiusan has 100,000 tonnes soybeans and 1,000 tonnes soybean meal in inventory, among which 103,000 tonnes upon contract remaining unimplemented. Jiusan processes 5,000 tonnes soybeans for one day by two lines from October 7th night. Two ships loaded with soybeans will arrive in October.