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Offers for Soybean Meal in Shandong Pick up Steadily 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), prices for soybean meal spots with 43% protein content in Lingyunhai, Rizhao are increased to 2,920 yuan/tonne($440/tonne), a rise of 10 yuan/tonne against that on September 29th. Basis settles at M1801+100 from November to January with an increase of 20 yuan/tonne. The spread for soybean meal with 46% protein content is +180 yuan/tonne(+$27/tonne). Lingyunhai is now starting up, processing 4,000 tonnes soybeans each day.

    The offer for soybean meal spots with 43% protein content in Bohi, Qingdao stays at 2,920 yuan/tonne($440/tonne), remaining flat against September 30th. No transaction was made before holidays when offered 2,920 yuan/tonne upon transaction. Notably, operation continued during national holidays in Sector 2, but a machine halt in Sector 1 had been made on October 5th yet with an overhaul on 7th and 8th.