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SunSirs: Imported Soybean Supplies Down and Soybean Meal Price Up

March 19 2020 10:01:59     SunSirs (Daisy)

The soybean meal commodity index was 90.41 on March 18, up 0.53 points from yesterday, down 35.37% from the cycle high of 139.88 (2012-Septmber-04), and up 23.78% from the low of 73.04 on April 10, 2016 (Note: Period refers to 2011-Septmber-01 till now). 

Since Mid-March, soybean meal prices have risen sharply. The average price of soybean meal on March 12 was 2882 RMB/ton, while the average price of soybean meal on March 18 was 3012 RMB/ton, up 4.51%.

Products: Since March, the soybean meal price has continued to fall mainly due to the low demand of terminal feed. On March 12th, soybean imports to port has fallen dramatically. Meanwhile, soybean oil factory gradually opens the outage plan. Coupled with foreign outbreak port workers to cease, and raw materials import soybeans to port is expected to continue to sharply reduce. With usury multi-factors, soybean meal futures go higher in early trading. On March 18, soybean meal opened 2770 RMB/ton, up 20 RMB/ton. The spot price rise with future price. The mainstream offer is 2950-3000 RMB/ton. The price increases by 30-50 RMB/ton within a single day. 

Device dynamics: (The Bold is Company’s Name)

Rizhao Bangji plans to stop the machine on March 20 and start it on April 9

Rizhao Textile plans to stop operation on March 26 and start operation on April 25. 

Tianjin Jiusan planned to be shut down on March 25 and started up on April 14. 

Tianjin Dreyfus planned to stop operation on April 2 and start operation on April 25. 

Tianjin Cofco plans to shut down on April 10 and start up on April 25.

Market Forecast: 

SunSirs agricultural analyst Li Bing thinks that raw material imports of soybeans to port in the short term is difficult to improve, the price of soybean meal is expected to rise.

If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.

 

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