SunSirs: It is Expected China Domestic Soybean Meal Prices will still Decline in the Future
December 23 2024 15:16:47 SunSirs (Selena)
On December 20th, the National Grain and Oil Information Center reported that the recent decline in domestic soybean meal prices is mainly due to the lower pre-sale prices of South American soybeans compared to current US soybean prices, and the decrease in import costs suppressing domestic soybean meal prices.
According to monitoring, the CNF quotation for Brazilian soybean exports to China scheduled for April 2025 is 391 US dollars per ton, and the import tax payment cost for South China is 3,245 RMB per ton, which is 200-350 RMB per ton lower than the import tax payment cost for American soybeans scheduled for December. Based on the soybean oil price of 7,500 RMB/ton, the selling price of soybean meal at the break even point of the oil factory is around 2,500 RMB/ton.
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