Today (Aug. 16th), the market for meals in China is shown as follows:

Soybean meal: U.S. soybeans fell last night on the forecast for favorable rains in the U.S. production regions and weak export data, and meal futures also continue to drop on the Dalian Commodity Exchange. Spot bids for soybean meal go down by 10-20 yuan/tonne from yesterday in tepid trading. Specifically, the price settles at 2,830-2,900 yuan/tonne in coastal areas. (Tianjin 2,890, Shandong 2,850-2,890, Jiangsu 2,860-2,890, Dongguan 2,830-2,850, Guangxi 2,870-2,880 and Fujian 2,850-2,880). Local mills are choked with soybean meal after Sichuan is hit by the rampant African swine fever, which is also reported in some regions of Jiangsu recently. And soybean arrivals will be huge later. Soybean meal prices are still curbed by bearish fundamentals. But the market may raise a round of weather speculations at any time now that U.S. soybean planting acreage has seen a big cut, and there is still no sign of a thaw in trade tensions between China and the United States; hence, soybean meal prices will also see little downside space. Overall, short-term market may mainly fluctuate at a narrow range, and buyers can wait for low and stable prices to make replenishment in small batch. 

Imported rapeseed meal: Imported rapeseed meal remains basically stable in price today, of which it settles at 2,430-2,520 yuan/tonne in coastal areas. (Guangxi not offered; Guangdong 2,430, stable; and Fujian 2,450, stable). Rapeseed is in a tight supply outlook amid pending issues between China and Canada. And the market now keeps a close watch on U.S. soybean yield after a sharp cut in planting acreage, so there may be more weather speculations later. But the overall demand for meals remains delicate due to the widespread African swine fever, and rapeseed meal has seen its share in aquatic feed falling to a fresh low due to its minor price spread with soybean meal and has also seen its place in poultry feed being replaced by sunflower meal. Meanwhile, soybean arrivals still remain huge. Short-term rapeseed meal market may fluctuate at a narrow range, and buyers can wait for low and stable prices on the Exchange to make appropriate replenishment on the dips. 

Imported fishmeal: Imported fishmeal price stays stable today with huge negotiating space. Quotation at ports: it is priced steadily at 9,700-9,900 yuan/tonne for Peruvian Standard SD with 65% protein content, 10,000-10,200 yuan/tonne for Thai SD with 67% protein content, 10,300-10,500 yuan/tonne for Japanese SD with 67% protein content, and 10,700-10,900 yuan/tonne for super SD with 68% protein content and 10,300-10,700 for old products. Stocks at port: Huangpu 132,000 tonnes, Fuzhou 33,000 tonnes, Shanghai 84,000 tonnes, Tianjin 1,000 tonnes, Dalian 20,000 tonnes, Fangchenggang 1,000 tonnes and 4,000 tonnes at other ports. The price steadily edges lower today: it is down by 20 yuan at 1,280 USD/tonne for Peruvian Standard SD with 65% protein content and lower by 20 USD at 1,390 USD/tonne for super SD with 68% protein content. Chilean Standard SD with 65% protein content is 1,360 USD/tonne, and super SD with 68% protein content at 1,590 USD/tonne. Domestic fishmeal consumption is slow due to tepid demand from aquaculture and smaller hog herd under the ASF. Meanwhile, fishmeal inventory keeps mounting higher at port with ongoing arrivals from Peru. Holders are under sales pressure so that domestic fishmeal market is restricted. Overall, fishmeal market is predicted to stay stable with slight declines in the short run.

Cottonseed meal: Today cottonseed meal stays stable due to the low operation rate and low cottonseed meal inventory. However, the demand is affected by the devastating outbreak of African swine fever with the number of China's live hogs in July declining by 9.4% month on month, down 32.2% year on year. Moreover, the narrow price spread between soybean meal and cottonseed meal curbs cottonseed meal market as well. Today meals on DCE further decline, spot soybean meal stable with a drop of 10-20 yuan/tonne. Short-term prices are likely to stay stable with fluctuations in narrow range, and buyers are suggested to stay on the sideline for the present.