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SunSirs: May 26, Rapeseed Meal Prices are Stable

May 27 2020 16:16:15     SunSirs (Molly)

1. Price Trends

According to SunSirs monitoring, the average price of East China rapeseed meal on May 26 was 2326 yuan / ton at the beginning of the week.

2. Market analysis

The offer of rapeseed meal on May 26 maintained stable operation. In Hunan, the price of bulk granular rapeseed meal in Yueyang was 2370 yuan / ton, which was flat compared with the previous day. In Tianjin area, Canada's bulk granular rapeseed meal, Tianjin 2330 yuan / ton, the quotation was unchanged from the previous day. Bulk Dubai meal, Tianjin 2350 yuan / ton, the quotation was unchanged from the previous day. Jiangsu area, Dubai bulk vegetable meal, Nantong 2330 yuan / ton, the quotation was unchanged from the previous day. Zhonggu Bilu packaged vegetable meal at 2,350 yuan / ton, the quotation was unchanged from the previous day. Bulk granular rapeseed meal, Nantong 2310 yuan / ton, the quotation was unchanged from the previous day.

Domestically produced rapeseed meal is sporadically listed, but domestic rapeseed production has been reduced year after year, supporting domestic rapeseed meal prices. The relationship between China and Canada is still tense, the quantity of imported rapeseed is limited, and the stock of rapeseed meal is at a low level. Affected by the epidemic, the amount of aquatic seedlings to be dropped this year may be reduced, and the demand for rapeseed in aquaculture will be reduced.

Canadian Department of Agriculture and Agriculture estimates that the end of 2020/21 Canadian rapeseed stocks will be 2.3 million tons, 400,000 tons lower than the April forecast and the lowest stock in four years. Canada's rapeseed ending stocks in 2019 and 2020 are expected to be 2.7 million tons, 500,000 tons lower than the April forecast, as exports and domestic consumption data are raised.

3. Market forecast

SunSirs rapeseed meal analysts predict that, in the context of low rapeseed meal inventory, prices may be mainly adjusted for shocks.

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

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