Today (on March 16th), trends for Chinese animal and plant protein, oils & oilseeds and grains are shown as follows: 

    Daily review on soybean meal: US soybeans on CBOT and meal on Dalian Commodity Exchange both go up, with which soybean meal spots price up, and turnover turns good. Soybean meal prices in coastal areas range from 3,080 to 3,150 yuan/tonne, a rise of 10-20 yuan/tonne against yesterday (Tianjin prices 3,150 yuan/tonne, Shandong 3,110-3,130 yuan/tonne, Jiangsu 3,080-3,100 yuan/tonne, Dongguan 3,130-3,150 yuan/tonne, Guangxi 3,130-3,150 yuan/tonne). US soybean overall is fueled and supported given higher-than-expected soybean crushing In February and on the other, lowered soybean estimates in Argentina-- about 40 Mln tonnes, according to Rosario Grain Exchange. Correspondingly, soybean meal today also rises with crushers' expectation when Argentina's weather speculation probably comes about. Notwithstanding, such rises in US soybeans will not reach a staggering degree for U.S. soybean acreage this year expands 2 Mln acres more on the year and US soybean export may somehow be affected by trade tension between China and the United States. Furthermore, soybean meal consumption is still low seeing that pig rising remains unsatisfactory due to great losses and aquaculture is still in a off-season period. And such consumption capacity fails to offset burdensome stocks based on substantially large soybean arrivals in the second quarter and exceedingly high operating rate. On the whole, soybean meal may be in line with futures and be hard to rise significantly. Buyers may be wise to make proper replenishment upon bargain hunting to maintain a safe inventory level in view of US soybean rises. 

    Daily review on imported rapeseed meal: today, prices for imported rapeseed meal are basically stable amid small rises in part, among which prices in coastal areas stand at 2,460-2,510 yuan/tonne, growing by 20 yuan/tonne (Guangxi offers 2,460 yuan/tonne; Guangdong 2,510 yuan/tonne; Fujian 2,480 yuan/tonne, up 20 yuan/tonne). As temperature remains low in China, rapeseed meal used to feed freshwater fish is still not satisfactory in consumption and sales overall in the first quarter despite lifted rapeseed processing capacity and gradually improved turnover in market. In consequence, rapeseed meal in a near future probably vibrates tracking futures unless weather speculation for Argentina's soybean output comes to an end. 

    Daily review on fishmeal: today, prices for imported fishmeal keep firm, yet prices are negotiable upon transaction and shipments at ports are general. Northern ports: fishmeal price for ordinary SD with 65% protein content in Peru is 12,800-13,000 yuan/tonne; 13,500-13,700 yuan/tonne for Japanese SD with 67% protein content; 13,800-14,000 yuan/tonne for super steam fishmeal with 68% protein content. Southern ports: fishmeal price for ordinary SD with 65% protein content in Peru is 12,700 yuan/tonne; 13,500 yuan/tonne for Japanese SD with 67% protein content; 13,800 yuan/tonne for super steam fishmeal with 68% protein content. Port stocks: Hangpu has 31,000 tonnes, Fuzhou 32,000 tonnes, Shanghai 23,000 tonnes, Tianjin 1,000 tonnes, Dalian 3,000 tonnes, Fangchenggang 1,000 tonnes, and other ports 4,000 tonnes. Spots offers (FOB) in the outer remain stable, in detail, the fishmeal offer for ordinary SD with 65% protein content in Peru stays at USD $1,570 per tonne, USD $1,730 per tonne for super steam fishmeal with 68% protein content; the offer in Chile ordinary SD with 65% protein content is USD $1,850 per tonne, USD $1,980 per tonne for excellent fishmeal with 68% protein content. Market participants mostly hold a wait-and-see attitude towards fishmeal market at home since Peru's fish resources remain unclear and fish raising at home are still not started, consequently, spot prices offered at ports keep firm. 

    Daily review on soybeans: due to a strict investigation by State Commodity Inspection Department, imported soybeans for distribution at Qingdao and Rizhao ports remain unquoted. Imported soybeans for distribution are markedly restricted in food-grade products circulation for port inspections in consideration of ample domestic soybean supply. market players are not optimistic about its performance even when trades are allowed at ports. Attention should still be paid to port inspections and soybean arrivals. 

    Daily review on oils: beans on CBOT last night all rebounded, bolstered by technical and bargain-hunting buying as well as rising crude oil futures, accordingly, oils on Dalian Commodity Exchange today jump by leaps, with which domestic soybean oil and palm oil spots go up, and beyond doubt, turnover goes better. In detail, the rally in US soybeans is boosted by higher soybean crushing In February and on the other, lowered soybean estimates in Argentina, accordingly, domestic oils in a shorter term go up. But notably, price upside of US soybeans is also capped by expanded soybean planting acreages and worrisome trade tension between China and the United States. What's similar, oils in market will not rise a lot, but to vibrate with futures without big ups and downs when demand is far well below supply based on accumulating soybean oil stocks and high soybean processing rate. Wisely, buyers who are out of stocks can make proper replenishment today, and had better not chase high. 

    Today's soybean oil: main prices for GB grade-one soybean oil in coastal areas stand at 5,600-5,760 yuan/tonne, most rising by 10-30 yuan/tonne (Tianjin traders offer 5,740-5,760 yuan/tonne, Rizhao traders 5,740 yuan/tonne, Zhangjiagang traders 5,760 yuan/tonne, Guangzhou traders 5,600 yuan/tonne). 

    Today's palm oil: 24-degree palm oil prices in coastal areas are mostly between 5,080-5,230 yuan/tonne, increasing by 10-30 yuan/tonne (Tianjin traders offer 5,160-5,170 yuan/tonne, a rise of 20 yuan/tonne; Rizhao traders 5,230 yuan/tonne, a rise of 30 yuan/tonne; Zhangjiagang traders offer 5,180 yuan/tonne, a rise of 30 yuan/tonne; Guangzhou 5,080-5,100 yuan/tonne; Xiamen 5,160 yuan/tonne, a rise of 10 yuan/tonne). 

    Daily review on imported rapeseed oil: today, imported rapeseed oil prices up, among which prices in coastal areas are 6,330-6,500 yuan/tonne, up 40-80 yuan/tonne from yesterday (Great Ocean in Fangchenggang, Guangxi offers 6,400 yuan/tonne, up 80 yuan/tonne; Chinatex in Zhangzhou, Fujian offers basis 1,809-200 for May delivery; Fuzhiyuan in Dongguan, Guangdong offers 6,400 yuan/tonne, up 40 yuan/tonne). Rapeseed oil in coastal areas for the present falls to a record low, mainly attributable to good sales in recent days, especially in part of oil mills irrespective of their incentives for higher prices. By and large, rapeseed oil prices will vibrate in frequent sessions with futures when Argentina's weather spell continues and its soybean production remains unknown.  

    Daily review on corn: today, prices for domestic corn prices remain stable mostly where some are mixed. Corn buying prices in Shandong deep processors mostly stay at 1,930-2,060 yuan/tonne, some up 8-10 yuan/tonne from yesterday. While purchasing prices offered at Jinzhou port, Liaoning are mostly around 1,850-1,880 yuan/tonne (volume weight 690-710 g/L), keep unchanged from yesterday. Drying corn of Liaoning and Jilin at Bayuquan ports (moisture ≤ 15%, volume weight 690-700 g/L) are pegged at 1,890 yuan/tonne, being flat from yesterday. Corn prices at Shekou port, Guangdong settle at 2,000-2,010 yuan/tonne, up 10 yuan/tonne from yesterday. Subsidies for Jilin deep-processing businesses have finally been confirmed, with 100 yuan/tonne subsidy upon purchases. That requires corn buying in the period from Mar. 15th to Apr. 30th of year 2018 and corn processing before Jun. 30th, 2018. Such gospel boosts corn performance in the market, and additionally, with corn supplying delayed by rains and snows in corn belt these days, corn price decline is somewhat limited and a small rally in prices even comes about in some regions amid some traders' inclination for higher prices. Whereas, news about corn auction still goes around, and significantly, pressure on corn supply will be considerable when reserved corn is put into market in large quantities. Shorter term, domestic corn is to remain stable overall amid small variations, thus attention should be paid to official policies and supply/demand changes. 

    Daily review on sorghum and barley: today, imported sorghum further prices up where some ports price at 1,960-2,050 yuan/tonne (Tianjin offers 2,020 yuan/tonne, being flat; Nantong 2,050 yuan/tonne; Shanghai stops to report; Guangdong 1,960 yuan/tonne). At the same time, prices for imported barley keep firm, about 1,860-1,910 yuan/tonne at main ports (Tianjin has not reported yet; Nantong offers 1,910 yuan/tonne, Guangzhou 1,860 yuan/tonne). Imports of sorghum from America will fall impressively for the campaign of “anti-dumping and anti-subsidy” has been launched by China's Ministry of Commerce for American sorghum and import costs keep increasing, especially for April delivery. Importers are now inclined to hold onto goods in hope for higher prices and in case of unavailable supply of lower costs and in view of upside-down sorghum prices at home and abroad, and with long and short positions mixed, sorghum at some ports prices up further and is even overpriced. Corn prices in these days pare gains further under the impact of policy news, as a result, sorghum and barley, alternatives for corn feed are also under pressure in marketplace, but overall sorghum and barley may go strong.