SunSirs: Rapeseed Meal Prices in the Chinese Market Rose Daily on January 20
January 21 2022 08:38:00 SunSirs (Linda)
On January 20, the average spot price of rapeseed meal was 2,942 yuan/ton, up 1.59% from January 19.
U.S. soybeans rose sharply, Zheng Meal rose sharply on the 20th, and the spot of rapeseed meal rose. Aquaculture is in the off-season of consumption, and the demand for rapeseed meal is not good. According to statistics, the stock of rapeseed meal in coastal areas was 63,300 tons, the highest level in recent years, which suppressed the price of rapeseed meal. The tight supply of rapeseed and the high cost of imported rapeseed support the price of rapeseed. The demand for rapeseed meal is in the off-season, and it is expected that the price of rapeseed meal may fluctuate and run weakly.
On January 20, the main RM2205 contract of rapeseed meal futures on Zhengzhou Commodity Exchange (CZCE) opened at 2903 yuan, closed at 2959 yuan, up 87 yuan, the highest was 2969 yuan, the lowest was 2892 yuan, yesterday closed at 2872 yuan, settled at 2837 yuan, and the trading volume 563170 lots, open interest 474449 lots.
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