Daily review on soybean meal: US soybeans prices dropped last night, accordingly, soybean meal meets stagflation today in DCE. Domestic soybean meal spots are steadily weighed down with futures today. Coastal soybean meal prices range from 2,830 to 2,930 yuan/tonne, a fluctuation of 10-20 yuan/tonne(Tianjin prices 3,000 yuan/tonne, Shandong 2,880-2,930 yuan/tonne, Jiangsu 2,870-2,890 yuan/tonne, Dongguan 2900-2910 yuan/tonne, Guangxi 2,830-2,860 yuan/ton, where USD $1=CNY 6.583 ). A near-term drop may happen to US soybeans resulting from technical adjustments and estimated rising yield in USDA reports on Thursday night, yet soybean meal spots are curbed to price up. Prices cut in US soybeans is also curbed providing continuous rainfall in central and western areas to delay the harvest progress and dry weather in Brazil to affect planting. Concerns about tightened supplies of soybeans in late October and early November prevail in market seeing that China's imported cargoes will be delayed for two weeks. Turnover of soybean meal turned good yesterday by active buying to maintain inventories after holidays. Still, oil refineries hold out for high prices to support soybean meal, in that, soybean meal will register overall upward with strong momentum. A bearing on soybean meal supplies will be there after large quantities of soybeans at ports in next two months and the all-time high operation rate in oil refineries. Buyers are encouraged to buy in when prices cut to maintain basic inventory.

    Daily review on imported rapeseed meal: today, prices for imported rapeseed meal slide modestly, among which prices in coastal areas stay at 2,300-2,390 yuan/tonne with a rise of 10-30 yuan/tonne(Guangxi offers 2,330 yuan/tonne, Guangdong 2,390 yuan/tonne, Fujian 2320 yuan/tonne, where USD $1=CNY 6.583). Stocks of rapeseed meal in SC were decreased to 17,000 tonnes last week, 36% down against the previous week, which helped to support soybean meal prices. Yet, poor impetus for further prices growth is made obvious and fluctuations on rapeseed meal later may be impressive when aquatic products are off-season amid striking poor demands for feed, lower prices and massive supplies of soybean meal to replace rapeseed meal. Buyers are encouraged to buy in when prices cut to maintain basic inventory.

    Daily review on fishmeal: today, offers for imported fishmeal rise steadily, yet prices are negotiable upon transaction and shipments at ports today are general. Norther ports: fishmeal price in Peru ordinary SD with 65% protein content are 9,200 yuan/tonne; 10,300 yuan/tonne for Japanese SD with 67% protein content; 10,600 yuan/tonne for super steam fishmeal with 68% protein content, all of which remain flat over yesterday,where USD $1=CNY 6.583. Southern ports: fishmeal price for Peru ordinary SD with 65% protein content are 9,100 yuan/tonne; 10,100 yuan/tonne for Japanese SD with 67% protein content; 10,400 yuan/tonne for super steam fishmeal with 68% protein content, all of which rising by 100 yuan/tonne, where USD $ 1= CNY 6.583. Port stocks: Hangpu has 76,000 tonnes, Fuzhou 35,000 tonnes, Shanghai 65,000 tonnes, Tianjin 1,000 tonnes, Dalian 6,000 tonnes, Fangchenggang 1,000 tonnes, and other ports 4,000 tonnes. Fishing: till October 5th, about 9,384 tonnes of fish have been caught in southern Peru in B season over 17 years, accounting for 1.82% of the total volume; fishing quota for this season is 515,000 tonnes, among which 50,5616 tonnes remain unfinished. Spots offers in foreign trading(FOB) remain stable, in detail, the fishmeal offer for Peru ordinary SD with 65% protein content stays at USD 1,350 $/tonne, USD 1,500 $/tonne for super steam fishmeal with 68% protein content; the offer in Chile ordinary SD with 65% protein content is USD 1,350 $/tonne, USD 1,460 $/tonne for excellent fishmeal with 68% protein content, all of which are shipments in N/D. A strong mind of sellers to hold out for high prices has been obvious since pressure on port inventory is released and higher prices are supported in foreign trading. Overall, a great jump on domestic fishmeal prices is hard to come about in a short time amid dwindling demand requirements.

    Daily review on soybean: today, prices for imported and distributed soybean remain firm, which settles at 3,350-3,450 yuan/tonne($508-$523) at mains ports. Generally, prices for imported and distributed soybeans are expected to remain stable with strong momentum in a short term considering gradual reduction of soybeans stocks and traders' mind to hold out for higher prices amid 3,000 tonnes soybeans are shipped at ports every day. Prices cut in US soybeans is curbed providing continuous rainfall in central and western areas to delay the harvest progress and dry weather in Brazil to affect planting. With gradually increasing soybeans in market, prices for imported and distributed soybeans prices will also be dragged down provided if domestic soybeans happen to price down.

    Daily review on oils: today(on October 10th), US soybeans and soybean meal ended low last night by technical trading, meantime, oils today in DCE suffer from a stagflation with downward tendency, the same trend going to soybean oil and palm oil spots though US soybean oils are buoyant in market by technically active buying, generally, turnover turns to be poor. Analysts predict that soybeans yield will be raised in USDA reports on Thursday night when US soybeans may meet a stagflation, however, a steep tumble of US soybeans prices may fail to reach providing continuous rainfall in central and western areas to delay the harvest progress and dry weather in Brazil to affect planting. Soybean crush will rise to 1.72 and 1.9 million tonnes in the next two weeks, at the same time, soybean oil inventories have increased to 1.48 million tonnes, such being the cases, pressure on supplies will be great. Generally, rebound for oil spots will not be sustained, instead, frequent fluctuations will go forward in a short term. Practically, buyers can wait USDA reports to guide the market.

    Today's soybean oil: main prices for one-grade soybean oil in coastal areas stay at 6,020-6,200 yuan/tonne, part of which falling be 10-50 yuan/tonne (Tianjin traders offer 6,100-6,130 yuan/tonne, Rizhao traders 6,020 yuan/tonne, Zhangjiagang traders 6,200 yuan/tonne, Guangzhou traders 6,070-6,080 yuan/tonne, where USD $ 1= CNY 6.583).

    Today's palm oil: 24-degree palm oil prices in coastal areas are mostly between 5,710 and 5,810 yuan/tonne, a decline of 10-40 yuan/tonne(Tianjin traders offer 5,770-5,780 yuan/tonne, a drop of 10 yuan/tonne; Rizhao and Xiamen traders have not reported the prices; Zhangjiagang traders offer 5,810 yuan/tonne, a decline of 40 yuan/tonne; Guangzhou 5,710 yuan/tonne, decreasing by 20 yuan/tonne, where USD $ 1= CNY 6.583).

    Daily review on imported rapeseed oil: today, prices for imported rapeseed oil fall steadily, among which prices for imported rapeseed oil in coastal areas stay at 6,370-6,560 yuan/tonne, with a fall of 30-50 yuan/tonne over yesterday(October basis for Maple in Fangchenggang, Guangxi reaches 1,801-200; Yinxiang, Xiamen in Fujian stops to report; Chinatex in Zhanjiang, Guangdong 1,801-200, where USD $ 1= CNY 6.583). Last week, stocks for rapeseed meal in SC rose to 122,000 tonnes, an increase of 4% over the previous week, in addition, large quantities of soybeans later at ports and high stocks for soybean oil to capture the market will curb the consumption of rapeseed oil. Generally, a price slide will come back to rapeseed oil. 

    Daily review on corns: today, domestic corn prices fall steadily. Main prices for corn acquisition in Shandong enterprises in deep processing stay at 1,660-1,780 yuan/tonne, some falling by 10-40 yuan/tonne over yesterday but most remaining stable. Main prices for corn acquisition in northeast enterprises which engage in deep processing stay at 1,450-1,570 yuan/tonne, part of which fall by 10-20 yuan/tonne over yesterday. Corn prices at Jinzhou port, Liaoning remain stable, among which prices for new corns settle at 1,650 yuan/tonne in Liaoning; 1,620-1,640 yuan/tonne for Heilongjiang corns, 1,340-1,360 yuan/tonne for corns with 30% moisture, keeping flat over yesterday. Corn prices at Bayuquan port also keep firm, where drying new corns with 14.5%-15% moisture in Liaoning price down to 1,650 yuan/tonne; Heilongjiang corns are 1,630 yuan/tonne, where USD $ 1= CNY 6.583. Second-class old corns prices at Shekou port, Guangdong stay at 1,790-1,810 yuan/tonne, remaining flat over yesterday. While prices ranging from 1,830 to 1,850 yuan/tonne are set for old corns of good quality and part of new corns are 1,880-1,890 yuan/tonne, where USD $ 1= CNY 6.583. Traders still hold out high prices for new corns on account that continuous rainfall in Huanghuai area, NC has affected the harvest and sale of new corns. Yet, fine weather in northeastern region and gradual harvest of new corns from south to north to the market have pushed down prices for new corns in spite of increasing purchasing by enterprises, by striking contrast, most feed businesses in southern areas have abundant inventories, so purchasing needs are quite general. Generally, corn prices are expected to remain with weak momentum in term of sufficient supplies in market. Attention should be paid to weather changes in corn belt and to the selling of new corns in market.

    Daily review on sorghum and barley: today, prices for imported sorghum remain stable which settle at 1,780-2,200 yuan/tonne at main ports, remaining flat over yesterday(Tianjin offers 1,900-2,200 yuan/tonne; Nantong 1,850-1,860 yuan/tonne; Guangdong 1,780-1,800 yuan/tonne, where USD $ 1= CNY 6.583). Meantime prices for most imported barley remain stable which stay at 1,660-1,820 yuan/tonnes at main ports(Tianjin has not reported yet; Qingdao 1,820 yuan/tonne; Nantong 1,700-1,800 yuan/tonne; Shekou port in Guangdong 1,660-1,780 yuan/tonnes, where USD $ 1= CNY 6.583). Barley supplies in circulation at Nantong ports become tightened, additionally, costs for barley will keep high later, hence barley prices in EC will edge up at ports in these days. Given that weather turns good in northeast producing belt and new autumn corn in Huang-huai area, NC is being harvested into market, especially in Liaoning, corn supplies are still great in market, accordingly, prices cut of new corns appears to be different in regions. Seeing that new corns flock into the market, most enterprises engaging in deep processing prefer hand-to-mouth purchasing to maintain the basic inventory in case of risks. Yet, the weighed corn prices will also affect demands for barley and sorghum. With mixed long and short positions in market, significant fluctuations will not be reached on barley and sorghum, instead, steady fluctuations will go forward.