Today(on July 17th), trends for Chinese animal and plant protein, oils & oilseeds and grains are shown as follows: 

    Daily review on soybean meal: US soybeans in overnight trading rebounded, followed by rallying meals on DCE today, accordingly, soybean meal spots on the domestic market also trade up in line with futures. Coastal soybean meal prices range from 2,940 to 3,080 yuan/tonne, a rise of 20-40 yuan/tonne compared with yesterday (Tianjin prices 3,020 yuan/tonne, Shandong 2,940-2,980 yuan/tonne, Jiangsu 2,980-3,010 yuan/tonne, Dongguan 3,050-3,080 yuan/tonne, Guangxi 3,000-3,030 yuan/tonne). Susceptible to escalating trade tensions, deficient soybean purchases in the fourth quarter among Chinese buyers and unexpected weather conditions for US soybean growth in the crucial period have somehow limited declines in soybean meal, therefore soybean meal today is seen price up. However, losses in pigs raising and strict environmental protection in the southern areas have forced free-range raisers to get out of the business, consequently, meals demand is seen cut. Mills suffer from overflowing meals still have heavy stockpiles though soybean meal stocks in coastal areas actually are cut to 1.25 Mln tonnes on the week by 1.4%, such being the case, soybean meal for the moment is not to price up impressively. Shorter term, soybean meal is to move sideways tracking futures, therefore buyers had better not chase bids high, instead, proper purchases upon forward low basis are feasible. 

    Daily review on imported rapeseed meal: today, prices for imported rapeseed meal pick up, among which prices in coastal areas come into at 2,370-2,510 yuan/tonne with a rise of 10-20 yuan/tonne (Great Ocean in Fangchenggang offers 2,370 yuan/tonne, up 10 yuan/tonne; Fuzhiyuan in Dongguan, Guangdong 2,510 yuan/tonne, up 20 yuan/tonne; Chinatex in Zhangzhou, Fujian stops to quote). Albeit surging import costs for oilseeds after RMB plunges amid trade war, approaching golden time for aquatic raising and falling stockpiles of rapeseed meal in South China last week by 8% do give support to rapeseed meal on the market, to the extent that burdensome stockpiles of soybean meal still drag down rapeseed meal performance. Shorter term, rapeseed meal is to trade sideways narrowly with futures, therefore buyers can take a hand-to-mouth purchasing strategy. 

    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 ordinary SD with 65% protein content in Peru is 9,800 yuan/tonne; 11,300 yuan/tonne for Japanese SD with 67% protein content; 12,000 yuan/tonne for super steam fishmeal with 68% protein content. Southern ports: fishmeal price for ordinary SD with 65% protein content in Peru is 10,000 yuan/tonne; 11,500 yuan/tonne for Japanese SD with 67% protein content; 12,000 yuan/tonne for super steam fishmeal with 68% protein content. Port stocks: Hangpu has 41,000 tonnes, Fuzhou 35,000 tonnes, Shanghai 41,000 tonnes, Tianjin 1,000 tonnes, Dalian 4,000 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. Fishmeal demand in the golden time is gradually on the increase amid arrivals of new-season goods. Therefore, price variation of fishmeal at present is capped factored in brewing RMB devaluation and holders?wait-and-see attitudes and mindsets for prices support. 

    Daily review on soybeans: prices for most imported soybeans keep stable, where non-GM imported soybean prices at 3,490-4,070 yuan/tonne, and GM imported soybeans are unquoted. According to Cofeed latest probe, soybean arrival of imports are forecast to be 8.365 Mln tonnes with total 132 vessels in July, 8.5 Mln tonnes in August, and 8 Mln tonnes in September. Such ample supply of imported soybeans no doubt will further inflict on the market. Susceptible to escalating trade tensions, Chinese buyers are forecast to buy less US soybeans in months ahead. Besides, worries about soybean sources in the fourth quarter amid the brewing trade war and unexpected weather conditions for US soybean growth have strengthened traders' support for goods offers, that is to say, imported soybeans on the market are underpinned. On the whole, prices for imported soybean spots in near future will probably move upward steadily amid mixed long and short positions. 

    Daily review on oils: US soybeans ended overnight trading up, followed by rallying oils on DCE today, accordingly, soybean oil and palm oil spots on the domestic market also trade up yet with not much turnover. Surging basis for Brazilian soybeans and RMB devaluation have sent costs of imported soybeans high, whilst oilseeds crushing slipped by 6% last week owing to increasing meal-bloated phenomena domestically. Whereas, stockpiles of soybean oil still pile up to 1.57 Mln tonnes due to overall flat oils demand at present even though fairly good demand these days do give some support to oils market. In real terms, supply pressure still weighs on oils domestically on grounds of ongoing auction of soybean and soybean oil by State Reserves Bureau together with 61,000 tonnes of rapeseed oil auctioned today, particularly, about 87% of rapeseed oil auctioned is successfully traded with average price at 6,077 yuan/tonne. Shorter term, oils spots will follow futures to trade sideways frequently, therefore buyers are suggested to take a light position level in view of unclear oils performance. 

    Today's soybean oil: main prices for GB grade-one soybean oil in coastal areas stay at 5,350-5,470 yuan/tonne, most up 10-40 yuan/tonne (Tianjin traders offer 5,420-5,430 yuan/tonne, Rizhao traders 5,370 yuan/tonne, Zhangjiagang traders 5,470 yuan/tonne, Guangzhou traders 5,350 yuan/tonne). 

    Today's palm oil: 24-degree palm oil prices in coastal areas range from 4,620-4,700 yuan/tonne, some increasing by 20-40 yuan/tonne (Tianjin traders offer 4,670-4,680 yuan/tonne; Zhangjiagang traders offer 4,700 yuan/tonne, a rise of 40 yuan/tonne; Guangzhou traders 4,620 yuan/tonne; Xiamen 4,700 yuan/tonne, up 20 yuan/tonne; Rizhao trader stop to report). 

    Daily review on imported rapeseed oil: today, prices for imported rapeseed oil rise steadily, among which prices in coastal areas are 6,100-6,200 yuan/tonne, a rise of 20-30 yuan/tonne (Fuzhiyuan in Dongguan, Guangdong offers 6,140 yuan/tonne; Maple in Fangchenggang, Guangxi offers 1809-170; Fujian stops to quote). Among total 62,936 tonnes of rapeseed oil auctioned today, about 54,706 tonnes reach a deal with average price at 6,077 yuan/tonne. Reportedly, those rapeseed oil traded will be delivered before September 17th to relieve supply pressure ahead of spring sowing in the northwest inland area of China. In addition, another 60,000 tonnes of rapeseed oil is to be auctioned next Tuesday, yet ongoing auction of soybeans and soyoil and unsatisfying turnover overall will then weighs on rallies in rapeseed oil. But persisting trade worries, falling stockpiles nationwide last week to 0.43 Mln tonnes by 2% and unexpected weather for US soybeans may somehow underpin rapeseed oil prices. Rapeseed meal, shorter term is to trade sideways with futures, therefore buyers had better take a hand-to-mouth purchasing strategy. 

    Daily review on corn: today, domestic corn prices up steadily. Corn buying prices in Shandong deep processors mostly stay at 1,830-1,920 yuan/tonne, some up 10 yuan/tonne from yesterday. While main purchasing prices offered at Jinzhou port, Liaoning come into at 1,720 yuan/tonne, and 1,700 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; 1,730-1,740 yuan/tonne for naturally drying corn; 1,690 yuan/tonne for old corn (volume weight 700 g/L), basically being flat contrasting with yesterday. Second-class corn prices at Shekou port, Guangdong keep flat at 1,830-1,850 yuan/tonne from yesterday. Corn prices today on the domestic market maintain stable with good momentum. Grain supply of year 2017 is seen less and less, whilst rising freight costs due to logistic tensions, high delivery costs for grain traded, and squeezed profits for traders have resulted in limited delivery of old grain and even supply tension in some areas for most grain is auctioned in northeastern areas. On the point, corn prices are underpinned to ramp up in some areas, where prices in Shandong province rise by 10 yuan/tonne today. Notwithstanding, grain demand in end users remains slack despite approximately 8 Mln tonnes of grain being put into market each week, therefore corn prices shorter term are not to rise by jumps, but to move sideways stably with strong momentum. 

    Daily review on sorghum and barley: today, imported sorghum at ports prices steadily (US sorghum: Tianjin offers 2,150 yuan/tonne and prices are negotiable upon transaction, Nantong 2,020-2,050 yuan/tonne, Shanghai 2,050 yuan/tonne, Guangdong offers 1,860-1,880 yuan/tonne. Australian sorghum: Tianjin offers 2,320-2,350 yuan/tonne, Shandong 2,500 yuan/tonne, Shanghai 2,400 yuan/tonne. Domestic sorghum: Heilongjiang offer 2,800 yuan/tonne for dried sorghum; Qiqihar offers 2,680 yuan/tonne; 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 2,840 yuan/tonne). Barley price at ports keep firm (Shandong offers 1,900-1,910 yuan/tonne; Nantong 1,900-1,920 yuan/tonne; Guangdong 1,830-1,840 yuan/tonne). Sorghum sourced from the U.S. on domestic market later may be cut off given intensifying trade tensions between the world two largest economies, and the reduction of sorghum in market share will otherwise boost market demand for barley. Therefore importers having goods at hand prefer to hold onto goods and support goods offers. Meantime high import costs for grain also give support to the market. Whereas, sluggish feed demand overall still drags grain market, and on this note, grain prices today keep high amid long and short positions and shorter term, grain is to move sideways.