Today(on July 25th), trends for Chinese animal and plant protein, oils & oilseeds and grains are shown as follows: 

    Daily review on soybean meal: the US Department of Agriculture was said to provide up to 12 billion U.S. dollars to alleviate adverse effects of additional tariffs on US farmers and ranchers, including direct purchases, such being the case, US soybeans rose sharply in overnight closing session. Accordingly, meals futures on DCE today go up amid high opens, whilst soybean meal spots on the domestic market also price up. Coastal soybean meal prices range from 2,930 to 3,120 yuan/tonne, a rise of 10-30 yuan/tonne from yesterday (Tianjin prices 3,000 yuan/tonne, Shandong 2,930-2,980 yuan/tonne, Jiangsu 2,980-3,020 yuan/tonne, Dongguan 3,090-3,120 yuan/tonne, Guangxi 3,020-3,050 yuan/tonne). Albeit higher prices of Brazilian soybeans than US soybeans and less soybean purchases among Chinese oilseeds crushers in the fourth quarter underpin the after-market performance and send soybean meal spots to rise mildly, yet low meals demand in pigs raising and in aquatic raising due to heavy rains fail to largely relieve meal-bloated phenomena in mills. Meantime, that brimming soybeans in mills have delayed unloading at ports, where Beiliang port in Dalian has 5 ships stranded at sea. Therefore considerable pressure weighs on soybean meal and rallies in spots are seen smaller than in futures market. Shorter term, soybean meal is hard to rise by leaps and bounds, but to oscillate in line with futures narrowly, therefore buyers had better take a hand-to-mouth purchasing strategy.  

    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 1020 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). To the extent that rapeseed meal performance is bolstered by raised import costs for soybean sources after RMB offshore rate hitting 6.8, common weather speculation for US soybean growth, large fundamental pressure still weighs on the market like ample supply of rapeseed-- more than 0.6 Mln tonnes of rapeseed imported this month, and lowered meals demand in aquatic raising susceptible to heavy rains in some southern areas. On this point, rapeseed meal shorter term is to trade sideways frequently tracking futures, and buyers thus can take a hand-to-mouth purchasing strategy for the moment. 

    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; 11,300-11,400 yuan/tonne for Japanese SD with 67% protein content; 12,000 yuan/tonne for super steam fishmeal with 68% protein content. Northern 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 43,000 tonnes, Fuzhou 35,000 tonnes, Shanghai 43,000 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 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. Price variation of Fishmeal is limited for the present as holders prefer to take wait-and-see attitudes toward market and to support goods offers seeing slow stocks rises at ports and ongoing RMB devaluation. 

    Daily review on soybeans: prices for most imported soybeans keep stable, where non-GM imported soybean prices at 3,450-3,950 yuan/tonne, and GM imported soybeans are unquoted. According to Cofeed latest probe, soybean arrival of imports are forecast to be 8.561 Mln tonnes with total 135 vessels in July, 8.5 Mln tonnes in August, and 8 Mln tonnes in September. Such ample supply weighs down imported soybeans. In addition, slow consumption in businesses and limited demand in end users further drag down prices of non-GM imported soybeans. Higher prices of Brazilian soybeans than US soybeans, less soybean sources in the fourth quarter 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, imported soybeans in the long run will probably trade up amid trade fights onwards. 

    Daily review on oils: US soybean last night rebound since the USDA was said to provide up to 12 billion U.S. dollars to back up its farmers and ranchers, including direct purchases, who are now afflicted with additional tariffs. Correspondingly, oils on DCE today edge up, and most soybean oil and palm oil spots on the domestic market go steady amid mild rises partly. Still, turnover is not much though lower prices do attract some deals. Yet rallies in US soybeans may be short-lived as Trump expresses to slap additional tariffs on China's products worth up to 500 billion US dollars. With ongoing auction by State Reserves Bureau, slack demand actually fails to offset overwhelming oils supply, thus putting down oils performance. And as RMB plummets to 6.8 amid trade fights and overflowing meals in mills send oilseeds crushing to fall in the third consecutive week, falling stockpiles of soybean oil win crushers' support for goods prices. Oils performance in the near term will maintain slight and frequent oscillations tracking futures, and on this point, buyers can take a hand-to-mouth purchasing strategy for the moment. 

    Today's soybean oil: main prices for GB grade-one soybean oil in coastal areas stay at 5,360-5,480 yuan/tonne, some up 10-30 yuan/tonne (Tianjin traders offer 5,430-5,440 yuan/tonne, Rizhao traders 5,370 yuan/tonne, Zhangjiagang traders 5,480 yuan/tonne, Guangzhou traders 5,360 yuan/tonne). 

    Today's palm oil: 24-degree palm oil prices in coastal areas are mostly between 4,660 and 4,750 yuan/tonne, some up 20 yuan/tonne (Tianjin traders offer 4,670-4,690 yuan/tonne; Rizhao traders 4,750 tonnes, up 20 yuan/tonne; Zhangjiagang traders offer 4,720 yuan/tonne, up 20 yuan/tonne; Guangzhou 4,660 yuan/tonne; Xiamen traders stop to quote). 

    Daily review on imported rapeseed oil: today, prices for imported rapeseed oil rise steadily, among which prices in coastal areas are 6,110-6,250 yuan/tonne, up 20-50 yuan/tonne (Fuzhiyuan in Dongguan, Guangdong offers 6,140 yuan/tonne; Maple in Fangchenggang, Guangxi offers 1809-170; Fujian stops to quote). Heavy stockpiles still hover about oils performance overall though great RMB devaluation and surging costs for imported sources underpin rapeseed oil on the market. In detail, projected auction next Wednesday (0.46 Mln tonnes of soybeans, 0.06 Mln tonnes of soybean oil and 0.08 Mln tonnes of rapeseed oil) and growing stockpiles of rapeseed oil and soybean oil exert pressure on the oils market. Generally speaking, rapeseed oil is forecast to trade sideways narrowly and frequently in line with futures, therefore buyers are suggested to take a hand-to-mouth purchasing strategy for the moment. 

    Daily review on corn: today, prices for most domestic corn remain stable, some fluctuating in a tight range. Corn buying prices in Shandong deep processors mostly stay at 1,830-1,920 yuan/tonne, some down 6-10 yuan/tonne from yesterday. While main purchasing prices offered at Jinzhou port, Liaoning come into at 1,720 yuan/tonne, and 1,715-1,720 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. Ongoing corn auction and scattered supply of early new corn in some southern areas though replenish market supply, corn demand is not that satisfying given some alcohol businesses suspend operation for machine overhaul, deep processors are mostly inclined to a hand-to-mouth purchasing strategy so as to maintain a safe inventory level, and feed businesses also keep cautious about corn purchases factored in sluggish demand in breeding industry. However, common price premiums for corn of good quality still underpin old corn prices and limit the downward potential. On the whole, corn prices on the domestic are to trade sideways slightly and steadily in the near term. Notably, attention should still be paid to new corn supplying in the South as well as troubles like corn lodging and field ponding in the northeastern areas as heavy rains also undermine corn photosynthesis. 

    Daily review on sorghum and barley: today, imported sorghum at ports prices steadily (US sorghum: Tianjin offers 2,150 yuan/tonne mostly and some 2,100 yuan/tonne, Nantong 2,020-2,050 yuan/tonne mostly and some 2,000 yuan/tonne, Shanghai 2,050 yuan/tonne, Guangdong offers 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: Daqing in Heilongjiang offer 2,800 yuan/tonne for dried sorghum; Chifeng in Inner Mongolia offer 3,000 yuan/tonne for dried sorghum; Jilin 2,700 yuan/tonne for raw sorghum). 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 grain underpinned by high import costs in the near term is on a strong note. Whereas, sluggish feed demand overall still drags down grain market, and shorter term barley will go weaker than sorghum.