Today ( Sept. 21st), the market for oilseeds and oils in China is shown as follows: 

 

    Imported soybean: Prices for most imported soybeans keep stable, where non-GM imported soybean prices at 3,680-3,980 yuan/tonne, and GM imported soybeans are unquoted. Such ample supply and high stockpiles of imported soybeans no doubt will further inflict on the market. Narrowed price gap between domestic soybeans and imported ones undermines price competitiveness of imported soybeans, and limited delivery also puts bearish pressure on imported soybeans available for distribution. Subject to escalating trade disputes with the US, blocked imports of US soybeans and basically finished soybean sales in Brazil after November may contribute to lower-than-usual soybean arrivals during November and January next year. If such, forward soybean supply will be tight especially in the 4th quarter when Brazilian soybeans are sold out. That also leads to crushers' strong wills to soybean bids. On the whole, imported soybeans for distribution in the short run will probably trade sideways narrowly and steadily the time market supply & demand balance struggles in trade spats. 

 

    Cottonseed: Today, cottonseed edges up by 0.01-0.02 yuan/kg, ascribed to the escalating trade tensions and a small amount of new cottonseeds on market, as well as traffic tensions and increasing transportation fee from Xinjiang to mainland China. But the rise is constrained by its own low ending demand, mediocre markets of its by-products and the caution of oil mills in purchasing under thin margins from cottonseed crush. Besides, new cottonseed is gradually showing up in larger and larger volumes. Overall, short-term cottonseed price is predicted to have narrow fluctuations.

 

Oils:    

    

    Summary: US soybeans overnight continued to rebound as bigger-than-expected export outlook and short covering react on the market. Oils on DCE otherwise move sideways and generally take a slight drop, accordingly, soybean oil and palm oil spots on China's market also come down still with stagnant trade. Subject to trade woes and record-yielding US soybeans estimates, US soybean remains weak with its upward space capped. Soybean oil now grows to 1.6 Mln tonnes in stocks helped by elevated soybean crush, besides, good import margins of Argentine soybean oil also lead to more imports later. Yet demand for oils struggles when stockpiling for packing oil is basically near the end. That is to say, large soybean oil supply together with more palm oil arrivals this month places considerable pressure on oil performance in the near term. Generally, oils will take small declines in price shorter term and move upward in the long run, when the nagging trade disruption expose China to large soybean shortage onwards and traders in midstream and downstream applaud forward basis and seize goods prices. Buyers are suggested to buy on a hand-to-mouth basis. 

 

    Soybean oil: Main prices for GB grade-one soybean oil in coastal areas stay at 5,640-5,700 yuan/tonne, some down 10-20 yuan/tonne (Tianjin traders offer 5,630 yuan/tonne, Rizhao 5,640, Zhangjiagang 5,700, Guangzhou traders Y1901-110 or Y1901-100). 

 

    Palm oil: 24-degree palm oil prices in coastal areas are mostly between 4,590 and 4,700 yuan/tonne, mostly down 10-30 (Tianjin traders offer 4,700 yuan/tonne, down 10; Zhangjiagang traders offer 4,650 yuan/tonne, down 30; Guangzhou 4,590 yuan/tonne; Rizhao and Xiamen stop to quote). 

 

    Imported rapeseed oil: Prices for imported rapeseed oil fall sharply, among which prices in coastal areas come into at 6,250-6,450 yuan/tonne, some down 10-20 yuan/tonne (Chinatex in Zhangzhou, Fujian stops to quote, Shenheng in Dongguan, Guangdong 1901-350; Maple in Fangchenggang, Guangxi offers 1901-260 upon basis). Finishing oil stockpiling ahead of Chinese holidays suggests a slowdown in demand, but crushers still deadly call for oil delivery amid its heavy stockpiles, on this point, rapeseed oil is seen dragged down in performance. Yet amid escalating trade fights with the US, rapeseed oil shorter term is not to fall a lot, but to move upward on a small scale when nagging concerns over soybean shortage onwards prevail the market and rapeseed is also to cut in production worldwide. Buyers had better make replenishment upon low and stable prices. 

 

    Cottonseed oil: Soybean oil on DCE today continues its falls, and soybean oil also falls by 10-20 in cash price partially. In view of low stocks and prices of cottonseed oil pending the escalating US-China trade war, holders are inclined to support prices, so cottonseed oil price stops falling and stays stable today. But cottonseed oil market is still restricted by its own weakened demand under the end of festival stockpiling and the ongoing oversupply of staple oils. Short-term cottonseed price will fluctuate narrowly.