Daily review on soybean meal: US soybeans last night jump impressively due to the unexpectedly favorable news in reports, the same trend going to soybean meal in DCE today, meantime soybean meal spots prices are gained with futures today. Soybean meal prices in coastal areas range from 2,920 to 3,000 yuan/tonne, a sharp rise of 50-100 yuan/tonne against yesterday(Tianjin prices 3,060 yuan/tonne, Shandong 2,970-3,000 yuan/tonne, Jiangsu 2,940-2,950 yuan/tonne, Dongguan 2950-2960 yuan/tonne, Guangxi 2,920-2,950 yuan/tonne, where USD $1=CNY 6.584). An unexpectedly lower-than-expected per unit area yield of new soybeans in USDA report last night lifted US soybeans to a high level of about 1,000 cents in two and a half months, besides stocks are shown to be lower. It’s estimated that soybean meal in a short run will remain strong in market given tightened supplies in north and increasingly growing turnover of soybean meal on forward basis this week amid higher prices held out by oil factories. While challenges for soybean meal prices later in market will go forward after the favorable reports fade out. If possible, when market returns to the fundamentals and massive US soybeans enter the market as surprisingly over 18 Mln tonnes soybeans arrive at ports in November and December, pressure on soybean meal will be greater upon high operating rate of oil factories next week. Buyers are not encouraged to chase high prices, instead, to maintain safe inventory are advisable.

    Daily review on imported rapeseed meal: today, prices for imported rapeseed meal pick up steadily, among which prices in coastal areas stay at 2,350-2,420 yuan/tonne with a rise of 30-70 yuan/tonne over yesterday(Guangxi offers 2,370 yuan/tonne, with a rise of 70 yuan/tonne; Guangdong 2,420 yuan/tonne, 50 yuan/tonne up; Fujian 2,400 yuan/tonne, rising 80 yuan/tonne). Rapeseed meal market is supported as stocks of become lessened. Yet, poor impetus for further prices gains is made obvious for rapeseed meal when lower prices and massive supplies of soybean meal in market to replace rapeseed meal, coupled with dwindling demands of rapeseed meal upon gradually decreasing outstanding contracts. Buyers should be more cautious when chasing high.

    Daily review on fishmeal: today, prices for imported fishmeal pick up steadily, yet prices are negotiable upon transaction and shipments at ports are general. Fishmeal price for Peru ordinary SD with 65% protein content is 9,300 yuan/tonne, 10,400 yuan/tonne for Japanese SD with 67% protein content, 10,700 yuan/tonne for super steam fishmeal with 68% protein content, all of which growing by 100 yuan/tonne against yesterday, where USD $ 1= CNY 6.584. Southern ports: fishmeal price for Peru ordinary SD with 65% protein content are 9,200 yuan/tonne; 10,200 yuan/tonne for Japanese SD with 67% protein content; 10,500 yuan/tonne for super steam fishmeal with 68% protein content, all of which rising by 100 yuan/tonne, where USD $ 1= CNY 6.584. Port stocks: Hangpu has 74,000 tonnes, Fuzhou 35,000 tonnes, Shanghai 62,000 tonnes, Tianjin 1,000 tonnes, Dalian 5,000 tonnes, Fangchenggang 1,000 tonnes, and other ports 4,000 tonnes. 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 favorable trend for domestic market has been obvious given that pressure on port inventory is released and high prices are held out in foreign trading. Overall, domestic fishmeal market is expected to be stable with strong momentum for the time being, nevertheless price gains will not be great in light of dwindling demands. 

    Daily review on soybeans: today, prices for imported and distributed soybean remain firm, which settles at 3,280-3,390 yuan/tonne($498-$515) at mains ports. However, market for imported soybeans is still overwhelmed by increasing new domestic soybeans in market. However, gradual reduction of soybeans stocks and traders' mind to hold out for higher prices have in return brought favorable supports to imported and distributed soybean amid buoyant domestic soybeans prices in these days. Overall, imported and distributed soybean in a short run will remain strong. With gradually increasing soybeans in market later, a potential bearing on imported and distributed soybeans prices will go forward. An unexpectedly lower-than-expected per unit area yield of new soybeans in USDA report last night lifted US soybeans to a high level of about 1,000 cents in two and a half months, besides stocks are shown to be lower. If possible, when market returns to the fundamentals and massive US soybeans enter the market as surprisingly over 18 Mln tonnes soybeans arrive at ports in November and December, pressure on soybean meal will go forward later. 

    Daily review on oils: USDA cut per unit area yield of US soybeans estimates last night, a favorable report rendering US soybeans to rise sharply last night, additionally, US soybean oil closed high in previous day. However, an unexpected trend goes to oils in DCE today, to illustrate, soybean oil runs near the previous closing with a slight rise, where spots are buoyant mostly, by contrast, palm oil pares gains modestly followed by falling spots. Overall, oils market is supported for the time being given that the unexpectedly lower-than-expected per unit area yield of new US soybeans and stocks lift US soybeans to a high level of about 1,000 cents. Soybean oil stock levels have risen significantly to 1.55 Mln tonnes of a record high with upward tendency, additionally, soybean crush will be gained to 1.9 Mln tonnes of high levels in next week and palm oil stocks have exceeded to more than 0.4 Mln tonnes, such being the cases, oil spots will follow futures to meet frequent fluctuations light of oversupply but restrained price tumble caused strong performance in US trading. Buyers are encouraged to buy in when prices cut to maintain the inventory, but more attention should be paid when chasing high prices.

    Today's soybean oil: main prices for one-grade soybean oil in coastal areas stay at 6,030-6,130 yuan/tonne, part of which increase by 10-40 yuan/tonne, yet few decrease by 20 yuan/tonne, (Tianjin traders offer 6,090-6,100 yuan/tonne, Rizhao traders 6,030 yuan/tonne, Zhangjiagang traders 6,130 yuan/tonne, Guangzhou traders 6,050 yuan/tonne, where USD $ 1= CNY 6.584).

    Today's palm oil: 24-degree palm oil prices in coastal areas are mostly between 5,640 and 5,800 yuan/tonne, a decline of 10-50 yuan/tonne(Tianjin traders offer 5,750-5,760 yuan/tonne, a drop of 10 yuan/ton; Rizhao traders 5,800 yuan/tonne; Zhangjiagang traders 5,750 yuan/tonne; Guangzhou 5,640 yuan/tonne with a decline of 50 yuan/tonne; Xiamen 5,750 yuan/tonne, a drop of 50 yuan/tonne, where USD $ 1= CNY 6.584).

    Daily review on imported rapeseed oil: today, prices for imported rapeseed oil pick up steadily, among which prices for imported rapeseed oil in coastal areas stay at 6,420-6,650 yuan/tonne, with a climb of 20-70 yuan/tonne over yesterday( October basis for Maple in Fangchenggang, Guangxi reaches 1,801-170; Yinxiang, Xiamen in Fujian 1,801-180; Chinatex in Zhanjiang, Guangdong 1,801-180, where USD $ 1= CNY 6.584). Soybeans oil stocks have jumped to 1.55 Mln tonnes amid high operating rate of soybean oil factories, which takes the priority in market. Additionally, rumors prevail that reserved rapeseed oils are projected to be auctioned in market, which worsens the market of rapeseed oil. Overall, rapeseed oil will pare gains in a short term.

    Daily review on corn: today, prices for part of domestic corns are mixed. Main prices for corn acquisition in Shandong enterprises in deep processing stay at 1,650-1,780 yuan/tonne, most remaining stable but some falling 10 yuan/tonne or so. Main prices for corn acquisition in northeast enterprises which engage in deep processing stay at 1,450-1,570 yuan/tonne, some of which fall 10-20 yuan/tonne over yesterday. Corn prices at Jinzhou port, Liaoning are gained, among which prices for new corns settle at 1,680-1,690 yuan/tonne in Liaoning, 20-30 yuan/tonne up against yesterday; 1,340-1,370 yuan/tonne for corns with 30% moisture. Drying new corns with 14.5%-15% moisture from Liaoning and Jilin provinces at Bayuquan port price up to 1,660 yuan/tonne, rising 10 yuan/tonne; Heilongjiang corns are 1,630-1,640 yuan/tonne with a slight increase, where USD $ 1= CNY 6.584. Second-class corn prices at Shekou port, Guangdong stay at 1,780 yuan/tonne, remaining flat over yesterday. New corns price between 1,830-1,850 yuan/tonne. Harvest of new corns in belt is under the way from South to North, yet once weather turns good, a bearing on new corns can not be underestimated when entering the market in large quantities. Generally, downstream enterprises keep cautious about purchasing under the pressure of massive new corns to be in the market. Nevertheless, corn prices have the resilience to fall where some even rise in light of restrained yields of corns caused by rainfall in some regions. In a short term, corn prices will go on with slight fluctuations, but once the weather turns fine, downward pressure may come to corn prices when next-round new corns enter the market in quantities.

    Daily review on sorghum and barley: today, prices for imported sorghum remain stable which settles 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 6.584). Meantime prices for most imported barley remain stable, which stay at 1,660-1,820 yuan/tonne 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 6.584). Barley supplies in circulation at Nantong ports become tightened, additionally, costs for barley will keep high later, hence sorghum and barley prices in EC will edge up at ports in these days in terms of strong mind of importer to hold out for high prices. Given that weather turns good in northeast belt in October and new autumn corn in Huang-huai area, NC is being harvested into market, especially in Liaoning areas, 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. Additionally, domestic new sorghum and barley will also weigh down other grains at ports. With mixed long and short positions in market, significant fluctuations will not be reached on barley and sorghum, instead, steady fluctuations will go forward.