Domestic soybean price is expected to fall in March and meal price is expected to rise

Lead: Beijing, Feb 6 (Reuters) - Chinese domestic soybean prices are expected to begin to fall in March, traders and analysts said on Tuesday, following the arrival of imported soybeans and an expected increase in the number of soybeans sold by domestic farmers According to traders, before the Spring Festival at the end of January, soybean prices had climbed to a high level, with prices in Shandong Province as high as 2200 yuan (US $265.80) per ton Soybean prices in Heilongjiang Province, the main soybean producing area in Northeast China, once reached 2000 yuan per ton The reason for the rise of soybean price before the Spring Festival is that the arrival of foreign soybeans is reduced, while the transportation capacity is insufficient during the Spring Festival, which makes it difficult to transport soybeans from Northeast China to other provinces "We expect domestic soybean prices to fall below 2000 yuan per ton in March after more imported soybeans arrive," said an official at Dalian Huanong oil company, one of China's top soybean crushing plants He said farmers could also sell more soybean stocks in preparation for planting this year In northeastern provinces, soybean planting usually begins in mid April Wu9 expects that the domestic soybean meal price will start to rise after March, mainly due to the increase in feed demand, which is due to the need to breed new young animals after the livestock slaughter during the Spring Festival However, the price of soybean meal in South China remained strong, because the poor railway transportation hindered the supply of soybean meal from North China to the south, resulting in the shortage of soybean meal supply in South China This is what a manager of Guangdong Branch of Huanong group said The soybean meal price in Guangdong Province is 2080 yuan per ton, compared with 1900 yuan per ton in Dalian According to the manager of Huanong's Guangdong Branch, there will be two ships of American soybeans arriving at the plant in early March, with CNF price of $220 per ton He said that the plant imports one or two ships of soybeans a month, but declined to give more details Wu 9 (author:) shared it on feed Weibo to: