Today ( Sept. 17th), the market for meals in China is shown as follows:
Soybean meal: US soybean edged down last Friday. Foreign media said US President Donald Trump might impose commodity tariffs on USD 200 Bln from China as early as this week, but if this happens, China will refuse to attend the trade talk held later this month. Due to trade war concerns and the typhoon, all Guangdong oil mills stop production yesterday. Today, meals on DCE take on marked rises, so do spot prices of soybean meals, whose turnover gets better at low prices, but attracts little at high prices. Soybean meal in costal areas is priced at 3,220-3,300 yuan/tonne, seeing an increase of 20-40 yuan/tonne over last Friday (Among them, Tianjin 3,290, Shandong 3,220-3,280, Jiangsu 3,260-3,280, Dongguan 3,290-3,300 and Guangxi 3,260-3,280). Furthermore, soybean meal is quoted higher and higher as oil mills are positive towards later market in view of the reducing stock pressure of soybean meal and tight supply of forward soybean supply under trade disputes. However, the upward space is limited by later demand of soybean meal under diminishing live hogs in breeding since 17 cases of African swine fever have broken out. The overall soybean price will trend up in fluctuations before trade war ends, while the short-term trend may be in frequent fluctuations under bullish and bearish markets created by upcoming tariffs and trade talks. Buyers shall not chase up prices higher and shall replenish properly on the dips.
Imported rapeseed meal: Prices for imported rapeseed meal edge up in a steady pace, among which prices in coastal areas range from 2,420 to 2,470 yuan/tonne with a rise of 10-20 yuan/tonne (Great Ocean in Fangchenggang offers 2,440, stable; Fuzhiyuan in Dongguan, Guangdong 2,480; Chinatex in Zhangzhou, Fujian 1901+120 upon basis). Arguably, rapeseed meal is to trend up overall as long as trade conflicts persist. Amid trade woes, soybean sources for November through January next year will possibly meet supply tensions. For another, bigger price disparity between soybean meal and rapeseed meal makes for rapeseed meal consumption. Add to that, falling stocks to 0.03 Mln tonnes last week by 4% also win crushers’?bullish stance toward rapeseed meal later on the market. However, contagious ASF and strong typhoon wreak havoc on aquaculture and throw rapeseed meal into a high-frequency swing in line with futures. Buyers thereby are suggested to take a hand-to-mouth purchasing strategy and make proper replenishment upon low prices if out of stock.
Cottonseed meal: Trade war might be escalated as US might impose tariffs on USD 200 Bln commodities from China this week, so meals on DCE today take on marked rises, followed by spot prices of soybean meal to increase by 20-40. Besides, the enlarged price differentiation between soybean meal and mixed meal has boosted demand on mixed meals. So cottonseed meal remains stable in price today, coupled by its own tighter supply. But the price upward space is small as its demand is crippled by the contagious African swine fever. Short-term price is predicted to go up in fluctuations.
Imported fishmeal: Today, imported fishmeal is quoted steadily and can be traded with price negotiations, performing well in port shipment generally. 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 6.87)
