Recent trends of Asian soybean meal market

Introduction: recent news: Asian soybean meal suppliers' demand has been fully met by the end of the year, according to the Asian trade firm Thursday Due to the expectation that demand from South Korea, Japan and Indonesia will increase, they are now looking for soybean meal in January and February They expect global soybean meal prices to remain at current prices after the USDA's record production report last week, as demand will start to rise from January onwards "It is unlikely that prices will fall further and the market has responded to record production forecasts," said a Singapore based oilseed and grain trader On Friday, the U.S Department of agriculture expected U.S soybean production to reach a record of 2.907 billion bushels in 2001, 73 million bushels higher than September's estimate and 2.77billion bushels higher than last year's record Traders said Japanese soybean meal importers were still unsure of the impact of the reported cases of BSE on domestic feed consumption "Japanese Importers are very keen to increase soybean meal imports because they do not intend to use meat and bone meal," said another oilseed trader in Singapore They are looking for several ships of Indian soybean meal, waiting for the right price " In September, the Japanese government confirmed that a cow had the country's first case of bovine spongiform encephalopathy, mad cow disease This is also the first case found in Asia Traders expect Japan's ban on meat and bone meal to help India increase export sales to the Japanese market "We certainly expect to sell some Indian soybean meal to Japan next week, if not this week," said an Indian exporter Asian traders say South Korea has bought 15000 tons of Indian soybean meal this week and will buy more "I would not be surprised if there were more bids from South Korea," said one trader "Indian soybean meal prices are very attractive to them." Traders said that the price of Indian soybean meal was US $194 to US $195 per ton, which is the CNF price for shipping to Southeast Asia In contrast, the CNF price of American high protein soybean meal was US $214 to US $215 per ton, while that of Argentine soybean meal was at the same level as that of Indian soybean meal "These countries are willing to purchase from India because of the uncertain shipping schedule because of the low freight and relatively short shipping schedule," said one Jakarta trader With the harvest season peaking in India, there is a huge supply of soybean meal " Traders in Asia say the Philippines is also looking for several ships of December soybean meal Thai buyers are waiting for prices to fall further before a deal can be finalised "Southeast Asian countries are trying to estimate how the demand for commercial feed will be affected," said a trader in Bangkok They are all lowering their demand forecasts, but they are not sure how much they should be lowered " (author:) share to feed Weibo share to: