Analysis of Asian soybean meal Market: traders reopen due to rising soybean meal prices

On Monday, suppliers from Asia's major soybean meal importers said they expected the original Asian soybean meal importers and Indian soybean meal exporters to reopen negotiations on the deal after the recent surge in world soybean meal prices They noted that as Indian soybean meal prices rose, some Korean soybean meal buyers turned to Chinese soybean meal A Singaporean soybean meal and grain trader said, "now we have begun to renegotiate the contract with some Indian soybean meal exporters, and I expect there will be more similar negotiations Some people have to step up negotiations to finalize the source of supply on time " But other suppliers don't think the scope of the problem is large "There will definitely be renegotiation," said another Singapore soybean meal trader I don't think it will be large But some Indian soybean meal exporters will find it very difficult to provide soybean meal at the contract price With soybean meal prices rising in the Chicago market and strong demand for soybean meal, Indian soybean meal prices have risen by more than $30 per ton since India started a new marketing campaign at the end of August Some Indian soybean meal contracts are priced at just over $200 per ton for December, but the current Southeast Asian CNF price for soybean meal is $230 per ton Some Indian soybean meal exporters say they have no choice but to pass on the extra costs to traders who have signed contracts with the final buyers because of the rise in soybean meal to pull together in times of trouble? An Indian soybean meal exporter said, "let's not call this renegotiation If the price goes up to this range, then we have to make some concessions together " Another Indian soybean meal exporter added, "this is not to say that all the price increases should be passed on to others We want to maintain a good relationship with our buyers, but the exporters can not afford such a big loss." Both Singaporean traders and Indian soybean meal exporters agree that the delivery time will not be delayed, but some Southeast Asian final buyers are still crossing their fingers, praying that God will give them good luck (soybean meal can arrive on time) "It's hard to say what will happen if this situation continues," said a Malaysian soybean meal importer We can only see " The high price of Indian soybean meal has prompted South Korea, the top buyer of Indian soybean meal, to switch to Chinese soybean meal, traders said "South Korea has been buying a lot of Indian soybean meal recently, but for South Koreans, there is a limit to the price they are prepared to pay," said a Singapore trader If they can buy Chinese soybean meal at a lower price, why don't they? " On Friday, traders in Seoul said South Korean TS had bought 6000 tons of Chinese soybean meal, 45% protein, in mid November after private negotiations in China The soybean meal is divided into two batches of 3000 tons each, and the CNF price is less than $220 per ton South Korea is in talks to buy more Chinese soybean meal, and some final deals could be reached this week, a trader said Don't ask me if I have signed a new soybean meal contract Now the soybean meal business is in full swing, we still need to buy a lot of soybean meal Let me make this deal in peace and then talk about other things " Soybean meal futures on the Chicago Mercantile Exchange (CBOT) mostly closed lower on Friday, rising 13 percentage points in less than three weeks, leading to a small profit close CBOT soybean meal closed down $1.20 to up 50 cents, with January soybean meal contracts up 50 cents to $191.40 per short ton The market is waiting for the outcome of urgent consultations between EU agriculture ministers on Monday, which will consider a package of bans on the use of meat and bone meal for animal feed China feed industry information network RM8 (author:)