Today ( Sept. 18th), the market for meals in China is shown as follows:

    Soybean meal: Trade tensions escalate as US President Donald Trump declares to impose the additional tariffs on $200 billion worth of Chinese imports, which will be effective starting September 24th, 2018. So US soybean ended down last night. But meals surge on DCE today, followed by spot price of soybean meal to increase, leading to few contracts. Costal soybean meal is priced at 3,250-3,330 yuan/tonne, up 40 over yesterday (Tianjin 3,310, Shandong 3,250-3,310; Jiangsu 3,280-3,300, Dongguan 3,310-3,330 and Guangxi 3,300-3,320). Increasing consumption on poultry products before double holidays and peak season of aquaculture, coupled by downtime in Guangdong oil crushing mills by typhoon, soybean meal stock extends its three-consecutive-week fall to 940,000 tonnes by a weekly decline of 8%. As the prolonged US-China trade disputes may lead to supply shortfalls in soybean from November to February, oil mills are inclined to prop up prices, thus driving spot price of soybean meal to extend its growth. However, its uptrend space is limited, for live hog in breeding is crippled by the contagious African swine fever (18 cases currently in China), and the mixed meal demand might be multiplied by enlarged price difference between soybean meal and mixed meal. Overall, soybean meal price will go up in fluctuations before trade war ends. Buyer shall keep the balance of buying and selling, but not to chase up price higher excessively.

    Imported rapeseed meal: Prices for imported rapeseed meal edge up in a steady pace, among which prices in coastal areas range from 2,430 to 2,480 yuan/tonne with a rise of 10 yuan/tonne partially (Great Ocean in Fangchenggang offers 2,440, stable; Fuzhiyuan in Dongguan, Guangdong 2,480, stable; 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 may face supply tensions. For another, oil mills are positive to later market as demand for rapeseed meal will be multiplied by bigger price disparity between soybean meal and rapeseed meal. However, as contagious ASF cripples live hog numbers in breeding and strong typhoon wreaks havoc on aquaculture, rapeseed meal is limited in uptrend and thrown into a high-frequency swing in line with futures in the short term. Buyers thereby are suggested to  make proper replenishment on the dips and shall not chase prices up excessively. 

    Cottonseed meal: Trade tensions escalate as US President Donald Trump declares to impose the additional tariffs on $200 billion worth of Chinese imports, so soybean meal spot goods rise up by 10-40. As the spread is widened between soybean meal and cottonseed meal, demand for the later may be multiplied. But its price also goes up by 10-20 partially today for its tighter supply. But demand for cottonseed meal is not observed under the contagious African swine fever, so its price is still weak in surging. Overall, short-term market may go up with frequent fluctuations. 

    Imported fishmeal: Today, imported fishmeal is quoted steadily, being traded with limited price negotiations but performing well in port shipment generally. Northern port: Peruvian ordinary SD fishmeal with 65% protein content is 10,600-10,700 yuan/tonne; Peruvian Japanese SD fishmeal with 67% protein content is 11,800-11,900 yuan/tonne; Peruvian super SD fishmeal with 68% protein content is 12,000-12,100 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 11,800 yuan/tonne; Peruvian super SD fishmeal with 68% protein content is 12,000 yuan/tonne. Stocks at port: Huangpu 53,000 tonnes, Fuzhou 37,000 tonnes, Shanghai 51,000 tonnes, Tianjin 1,000 tonnes, Dalian 5,000 tonnes, Fangchenggang 1,000 tonnes and 4,000 tonnes at other ports. Spot quotations (FOB) in foreign market keep stable: Peruvian ordinary SD fishmeal with 65% protein content is quoted at 1,360 USD/tonne, and 1,630 USD/tonne for super SD fishmeal with 68% protein content. Chilean ordinary fishmeal with 65% protein content is quoted at 1,510 USD/tonne, prime with 68% protein content is 1,610 USD/tonne. As foreign market offers high and stock shows signs to fall, plus by intensive hoarding ports for fishmeal, the market is predicted to keep firm and steady in the short run. 

(USD $1=CNY 6.87)