According to the National Grain and Oil Information Center, domestic soybean meal futures and spot prices rose slightly.

On October 10, 2011, the 2301 contract, the main soybean meal contract of Dashangsuo, closed up 1.22% to 4297 RMB/ton, and 43% of protein soybean meal in coastal areas quoted 5550~5790 RMB/ton, 20~60 RMB/ton higher than the previous day. The main 2301 contract of Zhengshang Institute for rapeseed meal rose 1.9% to 3220 RMB/ton, and the quotation of ordinary rapeseed meal in coastal areas was 4510~4650 RMB/ton, 60~80 RMB/ton higher than the previous day.

The domestic meal futures prices rose this week, and the soybean meal price trend was stronger than the rapeseed meal, and the soybean meal futures price difference was expanded. On November 10, the price difference of 2301 contract soybean and rapeseed meal was 1078 RMB/ton, 94 RMB/ton lower than the same period last week, 162 RMB/ton higher month on month and 588 RMB/ton higher than the same period last week; The price difference of 2305 contract soybean meal is 685 RMB/ton, 40 RMB/ton less than the same period last week. The spot price difference of soybean and rapeseed meal in coastal areas is 980~1210 RMB/ton, which is 70~130 RMB/ton more than the same period last week.

On November 10, the 2301 contract, the main vegetable oil contract of Zhengshang House, closed 1.46% higher to 11780 RMB/ton. The third grade vegetable oil in coastal areas was quoted at 14080~14280 RMB/ton, up 80~90 RMB/ton from the previous day. Among them, the quotation of third grade vegetable oil in Jiangsu is 14230 RMB/ton, that in Fujian is 14130 RMB/ton, that in Guangdong is 14080 RMB/ton, and that in Guangxi is 14080 RMB/ton. The clearance of rapeseed to Chinese ports is slow, and the domestic spot supply is tight, supporting the price of rapeseed oil to some extent.

On November 10, CNF of canola imported by Canada for November shipping offered US $764/ton, equivalent to 6690 RMB/ton of dutiable price at the port (9% import tariff and 9% value-added tax), down by 110 RMB/ton compared with the same period last week. The disk squeeze profit of Zheng Merchants Exchange 2301 contract was - 78 RMB/ton, up 442 RMB/ton on a weekly basis. The spot squeeze profit of Guangdong region was 1614 RMB/ton, up 284 RMB/ton on a weekly basis.

Canadian rapeseed has been intensively listed. Recently, the export speed has been significantly accelerated, but domestic customs clearance is slow. Rapeseed has arrived at Chinese ports sporadically. The operating rate of imported rapeseed oil plants is still low. The domestic spot supply of rapeseed meal is still tight, supporting prices to a certain extent.

Rapeseed is expected to arrive at Chinese ports in large quantities this month, and the supply will improve in the later period. Rapeseed meal shows a near strong but far weak pattern.

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