Today (on June 26th), trends for Chinese animal and plant protein, oils & oilseeds and grains are shown as follows: 

    Daily review on soybean meal: US soybeans on CBOT last night plunged, yet meals on DCE today trade high after low opens. Domestically, soybean meal spots price up and lower prices do attract some deals. Soybean meal prices in coastal areas range from 2,880 to 2,950 yuan/tonne, a rise of 10-30 yuan/tonne against yesterday (Tianjin prices 2,950 yuan/tonne, Shandong 2,890-2,930 yuan/tonne, Jiangsu 2,930-2,950 yuan/tonne, Dongguan 2,900-2,940 yuan/tonne, Guangxi 2,880-2,930 yuan/tonne). Reportedly, Trump administration determines to dwarf China in new technology field for the U.S. Department of the Treasury is now drafting relevant restrictions to prohibit Chinese companies holding 25% or more stocks from acquiring US companies with important industrial technologies. Whilst President Xi in his statement with CEOs of major European and American companies declares that China will rise to the challenge and show no compromises on this issue, according to Wall Street Journal reports. That escalating trade conflict significantly crashes US soybeans and boosts meals on the domestic market. Additionally, raised costs for imported soybeans after soybean basis hikes in South America and deficient vessels buying in China after October due to a short supply together with crushers' support underpin soybean meal to trade up. On the other hand, high operation rate in mills has sent soybean meal stockpiles up to 1.24 Mln tonnes by 10% on the week in coastal areas, and some mills even encounter with bloating meals when feed demand in fish breeding and poultry raising is low. Such being the case, overall fundamental pressure limits upward potential for soybean meal spots even though about 7 vessels loaded with soybeans at northeastern ports are stagnated at sea due to unavailable space for discharge. Buyers had better maintain proper inventory levels upon bargain hunting and keep an eye on if chasing high. 

    Daily review on imported rapeseed meal: today, imported rapeseed meal price up, among which prices in coastal areas come into at 2,300-2,440 yuan/tonne, with a rise of 10-30 yuan/tonne (Great Ocean in Fangchenggang offers 2,320 yuan/tonne; Fuzhiyuan in Dongguan, Guangdong stops to quote; Chinatex in Zhangzhou, Fujian 2,380 yuan/tonne, down 20 yuan/tonne). Subject to tit-for-tat measures taken both by the U.S. Department of the Treasury and China, escalating trade tensions crashed US soybeans overnight and otherwise boosted meals performance on the domestic market. Additionally, raised costs and basis hikes in Brazil for imported soybeans after Chinese buyers turn to South America for soybean purchases together with crushers’ support underpin rapeseed meal to trade up. But bearish factors for the present weigh down rapeseed meal prices like accumulating stockpiles of rapeseed meal and soybean meal, delayed meals demand in fish breeding and poultry raising, and increasing soybean auction around 0.5 Mln tonnes. Wisely, buyers who are out of stock had better make proper replenishment upon bargain hunting and maintain cautious if chasing high. 

    Daily review on fishmeal: today, prices for imported fishmeal keep firm, yet prices are negotiable upon transaction and shipments at ports are fairly good. Northern ports: fishmeal price for Peru ordinary SD with 65% protein content is 9,600-9,800 yuan/tonne; 10,900-11,200 yuan/tonne for Japanese SD with 67% protein content; 11,700-11,800 yuan/tonne for super steam fishmeal with 68% protein content. Southern ports: fishmeal price for ordinary SD with 65% protein content in Peru is 9,500 yuan/tonne; 10,900 yuan/tonne for Japanese SD with 67% protein content; 11,800 yuan/tonne for super steam fishmeal with 68% protein content. Port stocks: Hangpu has 36,000 tonnes, Fuzhou 32,000 tonnes, Shanghai 35,000 tonnes, Tianjin 1,000 tonnes, Dalian 6,000 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 Peru's ordinary SD with 65% protein content stays at USD $1,360 per tonne, USD $1,600 per tonne for super steam fishmeal with 68% protein content; the offer for Chile ordinary SD with 65% protein content is USD $1,510 per tonne, USD $1,610 per tonne for excellent fishmeal with 68% protein content. Stable futures in the outer and good sales at ports underpin holders' confidence in goods selling. Shorter term, fishmeal is to trade stable with downward tendency. 

    Daily review on soybeans: prices for most imported soybeans keep stable, where non-GM imported soybean prices at 3,590-4,070 yuan/tonne, and GM imported soybeans are unquoted. According to Cofeed latest probe, soybean arrival later at ports will be sufficiently large, in detail, soybean arrival of imports are forecast to be 9.5495 Mln tonnes with total 147 vessels in June, 9.5 Mln tonnes in July, 8.5 Mln tonnes in August, 7.8 Mln tonnes in September. Reportedly, Trump administration determines to dwarf China in new technology field for the U.S. Department of the Treasury is now drafting relevant restrictions to prohibit Chinese companies holding 25% or more stocks from acquiring US companies with important industrial technologies. Whilst President Xi in his statement with CEOs of major European and American companies declares that China will rise to the challenge and show no compromises on this issue, according to Wall Street Journal reports. That escalating trade conflict results in soybean basis hikes in South America, and such raised costs will give support to imported soybeans. Market players may as well take trade spat under way for guidance. 

    Daily review on oils: futures on CBOT last night plunged again, accordingly, oils on DCE in the morning also encounter with substantial fall and then make up most lost ground. Domestically, most soybean oil spots price down but some palm oil price up, still, turnover upon low prices turns better. The U.S. Department of the Treasury is now drafting relevant restrictions to prohibit Chinese companies holding 25% or more stocks from acquiring US companies with important industrial technologies as Trump administration is determined to dwarf China in new technology field. Whilst President Xi in his statement with CEOs of major European and American companies declares that China will show no compromises on this issue, according to Wall Street Journal reports. That escalating trade conflict significantly crashes US soybeans and boosts oils on the domestic market. And given oils futures on DCE in the afternoon make up most lost ground, oils shorter term are to rebound mildly. Stockpiles of soybean oil have further increased to 1.48 Mln tonnes based on weekly auction of soybean oil about 0.05 Mln tonnes, increased auction of soybeans reserved this week around 0.5 Mln tonnes together with large soybean arrivals, whilst rapeseed oil is also increased to 0.40 Mln tonnes. The fragile fundamentals put a cap on oils rallies. Wisely, buyers can take chance to make proper replenishment upon bargain buying. 

    Today's soybean oil: main prices for GB grade-one soybean oil in coastal areas stay at 5,340-5,450 yuan/tonne, most down 10-30 yuan/tonne (Tianjin traders offer 5,440-5,450 yuan/tonne, Rizhao traders 5,430 yuan/tonne, Zhangjiagang traders 5,450 yuan/tonne, Guangzhou traders 5,340 yuan/tonne). 

    Today's palm oil: 24-degree palm oil prices in coastal areas range from 4,700 to 4,790 yuan/tonne, some rising by 10 yuan/tonne (Tianjin traders offer 4,780-4,790 yuan/tonne, up 10 yuan/tonne; Zhangjiagang traders 4,760 yuan/tonne, keeping flat; Guangzhou traders 4,700-4,710 yuan/tonne; Xiamen 4,820 tonne/tonne; Rizhao traders stop to report). 

    Daily review on imported rapeseed oil: today, imported rapeseed oil prices down, among which prices in coastal areas are 6,270-6,350 yuan/tonne, a reduction of 20-50 yuan/tonne (Basis: Shenheng in Guangdong offers 1901-230; Maple in Fangchenggang, Guangxi offers 1809-180). Notably, oils supply is overall ample as stockpiles of rapeseed oil increase to 0.413 Mln tonnes by 6% on the week based on fairly large rapeseed oil vessels buying and sufficient rapeseed arrivals at ports, and soybean oil is also up to 1.48 Mln tonnes by 5% on the week in stockpiles on grounds of large soybean arrivals at ports, weekly auction of soybean oil about 0.05 Mln tonnes and increased auction of soybean reserved around 0.5 Mln tonnes. Shorter term, rapeseed oil is to trade weaker. Shorter term, rapeseed oil is to trade weak under bearish fundamentals like heavy stockpiles and light oils demand for in food when Summer comes. Possibly escalating trade spat will boost domestic market on condition that the U.S. administration poses restrictions on Chinese investment. Wisely, buyers are suggested to make proper replenishment when price tumble turns steady.   

    Daily review on corn: today, prices for most domestic corn remain stable amid some declines, yet the falling pace is obviously slowed down. Daily review on corn: today, domestic corn prices are stable amid some declines. Corn buying prices in Shandong deep processorsmostly stay at 1,790-1,890 yuan/tonne, and prices only in Chengwudadi decrease by 6 yuan/tonne from yesterday. While main purchasing prices offered at Jinzhou port, Liaoning come into at 1,700-1,720 yuan/tonne (volume weight 700 g/L), and 1,695 yuan/tonne (volume weight 700 g/L) for old corn. While drying corn prices of Liaoning and Jilin at Bayuquan port are pegged at 1,720 yuan/tonne; 1,740 yuan/tonne for naturally drying corn; 1,680 yuan/tonne for old corn (volume weight 700 g/L, mildew 3-4), basically being flat contrasting with yesterday. Corn prices at Shekou port, Guangdong stay at 1,830-1,850 yuan/tonne; 1,800-1,820 yuan/tonne for second-class old corn, being flat as compared with yesterday. Grain prices today in most North China mostly keep stable after prior declines, but with old grain of year 2015 dominating the market, raised prices including delivery costs and short supply of high-quality grain will give support to corn and limit its downward potentials. Whereas, grain supply is still ample when approximately 8 Mln tonnes of grain are auctioned weekly, but delivery pressure on grain traded is still considerable. And as corn demand in end users has no substantial improvement, corn prices are weighed on. Shorter term, corn is to move sideways narrowly and steadily. Attention should still be paid to grain transaction and delivery in July.  

    Daily review on sorghum and barley: today, imported sorghum at ports prices steadily (US sorghum: Tianjin offers 2,040-2,050 yuan/tonne, Nantong 1,950 yuan/tonne, Guangdong offers 1,860-1,880 yuan/tonne, all being flat. Australian sorghum: Tianjin offers 2,240-2,260 yuan/tonne, Shandong 2,420-2,450 yuan/tonne, Shanghai 2,350 yuan/tonne. Domestic sorghum: Heilongjiang offer 2,960 yuan/tonne for dried sorghum; Qiqihar offers 2,800 yuan/tonne for sorghum of poorer quality; Chifeng in Inner Mongolia offer 3,000 yuan/tonne for dried sorghum and Hinggan League offers 2,800 yuan/tonne for raw sorghum; Jilin 2,700 yuan/tonne for raw sorghum and Changchun offers 2,900 yuan/tonne). Barley at ports drops steadily (Shandong offers 1,900-1,910 yuan/tonne; Nantong 1,880-1,900 yuan/tonne; Jiangyin 1,880 yuan/tonne; Guangdong 1,790-1,800 yuan/tonne, down 20 yuan/tonne). Importer show concerns about market supply later in view of ongoing trade conflict and market uncertainty, and meantime, high costs of imported sorghum and barley also underpin importers' mindset to hold onto goods for higher prices. Nevertheless, factors like fragile feed demand, slow delivery on the market and price competitiveness lack in grain as compared to corn otherwise limit its rallying pace and generate little buying interest among feed businesses. Shorter term, grain is to trade sideways overall.