Daily review on soybean meal: US soybeans rebound slightly today, meantime soybean meal in DCE markedly slows down the falling pace where spots remain stable with slight rebounds, yet turnover of spots are quite general but lower basis in months to come may attract some deals. Soybean meal prices in coastal areas range from 2,900 to 3,000 yuan/tonne, some rising 10-20 yuan/tonne against yesterday(Tianjin prices 3,020 yuan/tonne, Shandong 2,980-3,010 yuan/tonne, Jiangsu 2,920-2,950 yuan/tonne, Dongguan 2960-2980 yuan/tonne, Guangxi 2,910-2,930 yuan/tonne, where USD $1=CNY 6.634). As soybean meal spots are all sold out in oil factories, among which stockpiles in coastal areas have been downsized to 728,000 tonnes, falling 7% from the last week, the performance of soybean meal in a short term is bound to be strong amid tightened supply. Generally, US soybeans is bolstered by robust export requirements and strong demands for biodiesel, but the rebounds will not be great as heavy harvest pressure meets favorable rainfall in Brazil in the following two weeks to help planting. With average more than 9 Mln tonnes soybeans arriving in November and December, supply tension of soybean meal will be fundamentally eased from mid-November. Practically, oils prices later will be adjusted. Buyers are encouraged to replenish the basic inventories instead of chasing high prices. 

    Daily review on imported rapeseed meal: today, prices for imported rapeseed meal drop steadily, among which prices in coastal areas stand at 2,310-2,380 yuan/tonne with a drop of 10 yuan/tonne over yesterday(Guangxi offers 2,330 yuan/tonne; Guangdong 2,380 yuan/tonne with 20 yuan/tonne lower tahn yesterday; Fujian 2,350 yuan/tonne, where USD $1=CNY 6.634). Yet, fluctuations on rapeseed meal may be impressive when dwindling demands in downstream are obvious by decreasing outstanding contracts and striking lower prices and massive supplies of soybean meal(more than 18 Mln tonnes soybeans are expected to arrive in N&D) to replace rapeseed meal amid tightened rapeseed meal stocks and strong sentiments of traders to hold out for high prices. 

Daily review on fishmeal: today, prices for imported fishmeal keep firm, yet prices are negotiable upon transaction and shipments at ports are general. Southern ports: fishmeal price for Peru ordinary SD with 65% protein content is 9,300 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, where USD $1=CNY 6.634. Port stocks: Hangpu has 68,000 tonnes, Fuzhou 35,000 tonnes, Shanghai 51,000 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 per tonne, USD $1,500 per tonne for super steam fishmeal with 68% protein content; the offer in Chile ordinary SD with 65% protein content is USD $1,350 per tonne, USD $1,460 per tonne for excellent fishmeal with 68% protein content, all of which are shipments in N/D. Prices fluctuate in a relatively tight range the time market insiders wait for surveys about fish resources.

    Daily review on soybean: today, prices for imported and distributed soybean remain stable, which stays at 3,480-3,500 yuan/tonne at mains ports, remaining flat over yesterday. Though US soybeans are bolstered by robust export requirements and possibly strong biodisel demands, prices for most imported and distributed soybeans today keep firm seeing insufficient soybean surpluses at ports and strong sentiments of traders to hold out for high prices. Practically, 70% US soybeans has been harvested, but the existing harvest pressure will continue to weigh down US soybeans. Imported soybeans may pare gains when heavy domestic soybeans later in market curb the consumption of domestic soybeans on the back of eased stocks pressure of soybeans in early November at ports.

    Today's soybean oil: main prices for one-grade soybean oil in coastal areas stand at 6,040-6,180 yuan/tonne, most of which rising 10-40 yuan/tonne (Tianjin traders offer 6,070-6,080 yuan/tonne, Rizhao traders 6,040 yuan/tonne, Zhangjiagang traders 6,140 yuan/tonne, Guangzhou traders 6,060-6,070 yuan/tonne, Fujian traders 6,180 yuan/tonne, where USD $ 1= CNY 6.634).

    Today's palm oil: 24-degree palm oil prices in coastal areas are mostly between 5,790-5,930 yuan/tonne, most of which increase by 30-50 yuan/tonne mostly(Tianjin traders offer 5,860-5,870 yuan/tonne, a rise of 40 yuan/tonne; Rizhao traders 5,930yuan/tonne, a rise of 30 yuan/tonne; Zhangjiagang traders offer 5,900 yuan/tonne, a rise of 50 yuan/tonne; Guangzhou 5,790 yuan/tonne, a rise of 40 yuan/tonne; Xiamen 5,850 yuan/tonne, a rise of 50 yuan/tonne, where USD $ 1= CNY 6.634).

    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 6,560-6,750 yuan/tonne, rising 20-30 yuan/tonne over yesterday( October basis for Maple in Fangchenggang, Guangxi reaches 1,801-170; Yinxiang in Xiamen, Fujian 1,801-150; Shenheng in Guangdong 1,801-160, where USD $1=CNY 6.616). Stockpiles of soybean oil and palm oil continue to pile up though rapeseed oil futures gain strength in terms of short supply, generally, supply tension on oils still goes forward. Meantime, rumors prevail that rapeseed oil in temporary reserves will be auctioned on the back of gradually increasing US new soybeans in market, such being the cases, contractions between supply and demand sides in oil market will be highlighted and market for rapeseed oil is expected to be sluggish.

    Daily review on corn: today, domestic corn prices remain stable with weak momentum for growth. Main prices for corn acquisition in Shandong enterprises in deep processing stay at 1,660-1,760 yuan/tonne, some falling by 10-20 yuan/tonne over yesterday but most remaining stable. Corn prices at Jinzhou port, Liaoning are stable, where new corn of Liaoning and Inner Mongolia settles at 1,675 yuan/tonne, and corn with 30% moisture stands at 1,350 yuan/tonne, keeping flat over yesterday. Corn prices at Bayuquan port remain stable, among which 1,660-1,670 yuan/tonne for some drying new corn with 14.5%-15% moisture in Liaoning and Jilin, remaining flat over yesterday. New corn prices at Shekou port, Guangdong are lowered to 1,840 yuan/tonne, a drop of 10 yuan/tonne over yesterday. As new-crop corn in producing belt continue to be abundant thanks to good weather, and carryover of old corn increasingly gains strength, supply pressure becomes greater. Most deep-processing enterprises are inclined to be cautious about new corn procurement on account of high moisture of new corn, a hand-to-mouth purchasing mostly to maintain basic inventories, consequently, corn prices register low amid grain glut. Notably, corn with poor quality and high mildew rate in Hebei and Shandong gives way to those high-quality and drying corn, therefore prices for corn of high quality have resilience to fall when supplies are tightened in market. Attentions should be paid on the amounts of new corn in market and related policies later.

    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 1,780-1,790 yuan/tonne. Meantime prices for most imported barley are 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 6.634). 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 sentiment of importers to hold out for high prices in case of unavailable supplies on lower costs. The pace of new corn supplying is accelerated in market as weather turns good in Huang-huai area, NC to help the drying of new corn, coupled by gradually recovered logistics. Meantime, supply of new corn form northeast producing belt keeps growing, which is expected to reach the first boom in market. Nevertheless, sow raising has been decreased amid relatively low production capacity and environmental protection, and sow raisers are not going to expand further to reverse the poor consumption of feed in market, such being the cases, 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.