Today ( Sept. 14th), the market for meals in China is shown as follows:
Soybean meal: Last night, US soybean ended down as President Trump twitted “we are under no pressure to make a deal with China”. Today, meals on DCE also edge down in fluctuations, with soybean meal spots showing fluctuations in steady prices and seeing small trading volume. The prices in coastal areas range from 3,190 to 3,270 yuan/tonne, fluctuating steadily at 10-20 yuan/tonne against yesterday (Tianjin 3,240, Shandong 3,190-3,270, Jiangsu 3,210-3,270, Dongguan 3,250-3,260, Guangxi 3,240-3,260). While African swine fever lessens live pigs in breeding, mixed meals are increasing in usage demands as substitutes due to favorable prices; therefore, spot price of soybean meal is weak in going up, and it may follow futures to see adjustments in narrow fluctuations. Currently, spot price of soybean meal still has the resilience to fall, since oil mills are in strong will to support prices under the increasing consumption in poultry and aquatic products, whilst forward soybean will be short under trade war. On the whole, soybean meal will extend its upward trend in fluctuations before trade war ends. But with the upcoming trade talks, soybean meal futures may suffer frequent fluctuations, so buyers can buy on demand.
Cottonseed meal: Cottonseed meal market remains stable for its tighter supply under increasing consumption in poultry and peak demand season of aquaculture, whilst trade war has slim hope to end in President Trump’s latest statement. But its price upward speed is slow as the demand is small under the contagious African swine fever. On the whole, cottonseed meal market is predicted to extend its upward trend in fluctuations before new cottonseed meal floods into market, and buyers shall make replenishment on the dips.
Imported rapeseed meal: Prices for imported rapeseed meal increase in a steady pace, among which prices in coastal areas range from 2,400 to 2,470 yuan/tonne with a variation of 10-20 yuan/tonne (Great Ocean in Fangchenggang offers 2,440, stable; Fuzhiyuan in Dongguan, Guangdong 2,480, up 10; Chinatex in Zhangzhou, Fujian 1901+130 upon basis). For one thing, bigger price gap between soybean meal and rapeseed meal helps to expand consumption of rapeseed meal. For another, nagging concerns over soybean shortage for November through January next year lead to crushers’ bullish stance toward its afternoon market, when trade woes disrupt China’s imports of US soybeans. Arguably, rapeseed meal is to trend up overall as long as trade conflicts persist. Whereas, contagious ASF and revival of trade talks in weeks ahead throw rapeseed meal into a tight rangbound session to track futures. Buyers thereby are suggested to take a hand-to-mouth purchasing strategy.
Imported fishmeal: Today, imported fishmeal is quoted steadily and can be traded with price negotiations, generally performing well in port shipment. Northern port: Peruvian ordinary SD fishmeal with 65% protein content is 10,400-10,500 yuan/tonne; Peruvian Japanese SD fishmeal with 67% protein content is 11,700 yuan/tonne; Peruvian super SD fishmeal with 68% protein content is 11,900-12,000 yuan/tonne. Southern port: Peruvian ordinary SD fishmeal with 65% protein content is 10,700 yuan/tonne; Peruvian Japanese SD fishmeal with 67% protein content is 11,500 yuan/tonne; Peruvian super SD fishmeal with 68% protein content is 11,800 yuan/tonne. Stocks at port: Huangpu 53,000 tonnes, Fuzhou 37,000 tonnes, Shanghai 51,000 tonnes , Tianjin 1,000 tonnes, Dalian 6,000 tonnes, Fangchenggang 1,000 tonnes and 4,000 tonnes at other ports.Spot quotations (FOB) in foreign market see steady increases: Peruvian ordinary SD fishmeal with 65% protein content is quoted at 1,360 USD/tonne, and super SD fishmeal with 68% protein content at 1,630 USD/tonne, up 30 against yesterday. Chilean ordinary fishmeal with 65% protein content is quoted at 1,510 USD/tonne, and prime fishmeal with 68% protein content is 1,610 USD/tonne. The overall market is buoyed by increases in foreign market, limited stocks at pots and concentrated hoarding ports for stocks, and the market may largely see stable rises in the short run.
(USD $1=CNY 6.85)
