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China's soybean crushing capacity reached 145 million tonnes by the end of 2014
From November 2014 to January 2015, a survey was conducted of 100 soybean processing enterprises with a daily processing capacity of over 1000 tonnes across more than 20 provinces and cities nationwide. The crushing capacity situation is summarized as follows: The survey shows that as of the end of 2014, China's daily soybean crushing capacity exceeded 10
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Northeast China's soybean industry in crisis: can the direct subsidy policy save it?
Soybean planting area continues its overall downward trend. During on-the-ground research, reporters learned that compared with last year, Heilongjiang's soybean planting area is still declining this year. However, affected by the sustained low-temperature and humid weather earlier in the season, some low-lying areas have not yet sown corn and can only switch to soybeans later.
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Ministry of Agriculture Issues 2015 Technical Guidance for Summer-Sown Soybean Production in the Huang-Huai-Hai Region
This website news: This year, the pre-sowing meteorological conditions for soybean in the Huang-Huai-Hai region were generally good, with temperatures on par with normal years. Heavy rain occurred in early June in the southern Huang-Huai area, and soil moisture was generally good, but the wheat harvest period was delayed by 2-3 days compared with normal years, and the soybean sowing period was delayed accordingly; in the northern Huang-Huai area
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Large quantities of imported soybeans will arrive in China in the coming months
Analysts say China's soybean imports will rise further in the coming months, mainly because South American soybeans ordered earlier are arriving, which may put pressure on crushing margins. Data released by the General Administration of Customs show that soybean imports in May this year reached 6.13 million
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Rapeseed Production Halved, China May Repeat the Soybean Industry's Mistakes
Anhui is a major rapeseed-producing region in China, and Hefei, Chuzhou and Lu'an in central Anhui are key rapeseed-growing areas. Zhang Yongwen, a large-scale farmer in the area, told reporters that few people there now grow rapeseed, with wheat and rice being the main crops.
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Soybean target price policy trial-tested for the first time, mechanism still needs improvement
Soybeans are closely tied to people's daily lives and offer considerable economic benefits. Since joining the WTO, China, once a major soybean producer, has become a fertile market for foreign soybeans, especially American ones, and some foreign companies have gained de facto pricing power over soybean purchases. And
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Soybean meal market faces pullback pressure after weather-driven speculation
Over the past two months, soybean meal futures contracts have seen a sharp decline followed by a rapid rebound, and the current price is already close to the high at the start of the decline. Does this mean the soybean meal market has already reversed? First, let us analyze the reasons for the earlier decline in soybean meal: First, sluggish domestic demand for soybean meal led to price declines. Weak demand in the livestock and aquaculture industry constrained soybean meal consumption. China's hog inventory and breeding sow inventory fell sharply year on year; prices of meat, eggs and poultry were sluggish, and farming losses were severe; demand in aquaculture slowed, constraining demand for protein meal. Second, soybean meal supply increased substantially, spot prices fell sharply, some basis contracts faced default risk, and selling off occurred.</P><P> Now let us look at the reasons for the rapid rise in soybean meal. The author believes that the rise in soybean meal came partly from a return of prices after the earlier excessive decline; on the other hand, it came from speculation driven by heavy rain in the main U.S. soybean producing areas, which caused market concern about U.S. soybean planted area and good-to-excellent ratings. The planted area data and weekly soybean good-to-excellent ratings data released by the U.S. Department of Agriculture on June 30 both confirmed the market's concerns about U.S. soybean planting. These data will, in the short term, still support U.S. soybean futures in maintaining high-level oscillation, which will substantially raise the cost of China's imported soybeans, forcing crushing plants to passively raise the prices of soybean meal and soybean oil.</P><P> But in the short term, speculation over the impact of severe weather on planting may cool somewhat, and the loose fundamentals will bring great pressure on soybean meal prices.</P><P> From the perspective of soybean meal supply, global soybean supply is ample. After U.S. soybeans hit a record high last year, soybean output in Argentina and Brazil also hit record highs, which will suppress legume prices over the medium and long term. Domestically, China's soybean imports in June may reach 8.53 million tons and in July reach 8 million tons, so soybean sources are very abundant; at present, the operating rate of domestic crushing plants remains at an extremely high level of about 54%, and soybean meal supply has recently remained high. The volume of domestic rapeseed meal and imported DDGS remains high, suppressing plant protein prices.</P><P> On the demand side, although the hog farming industry currently shows restocking demand, truly driving soybean meal consumption may still require waiting for hog inventory data to stop falling and rebound before it can be confirmed. The meat, egg and poultry farming industry remains sluggish. Due to oversupply, prices of meat poultry and eggs fell sharply earlier, severely dampening the enthusiasm of farming enterprises to restock. In aquaculture, because oversupply last year led to sharp price declines, pond stock levels in the south are relatively high this year, constraining the release of fry. Recently, rainfall has been excessive, feed placement in ponds has decreased, which is bearish for meal consumption. Later, as large quantities of stocked fish are sold, demand for protein meal from newly released fry may decline substantially, so demand for protein meal from aquaculture later is also worrying.</P><P> Based on the information on both supply and demand, the author believes that soybean meal supply and demand will remain loose, and after the bullish U.S. heavy rain weather factor is fully priced in, soybean meal prices will return to fundamentals in the short term, with the possibility of oscillating pullbacks.</P></p>
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Soybean Meal Resumes Uptrend as Market Panic Subsides
Affected by the Greek sovereign debt crisis and the sharp decline in the Chinese stock market, Dalian soybean meal futures fell sharply last Wednesday and Thursday. However, as the risk of Greece exiting the eurozone decreased and the Chinese stock market stabilized and rebounded, the panic sentiment in the commodity market temporarily eased, and Dalian soybean meal futures resumed their uptrend.
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China's soybean imports in the third quarter are expected to reach a massive volume
Oil World: China's soybean imports in July this year could reach as high as 9.5 million tonnes. According to the Hamburg, Germany-based industry publication Oil World, China's soybean imports in July 2015 could reach 9.2 million to 9.5 million tonnes. By comparison, statistics released by the General Administration of Customs of China early this week
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Why did soybean meal futures prices rebound against the trend when overall feed consumption was declining?
Recently, soybean meal prices followed the US market in a major rebound, and judging from soybean and soybean meal inventories, the massive arrivals of soybeans did not put much pressure on inventories. Therefore, looking only at protein prices, domestic demand seems to be doing quite well. Is that really the case?
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