Soybean: The most-traded DCE soybean No. 1 futures moved rangebound with a weak bias. However, tight supply in the producing areas provided underlying support. In addition, spring sowing in Northeast China is largely complete.
Edible Oil: Domestic vegetable oil futures prices were driven by macro front, while spot prices remained soft due to ample supply and sluggish demand. Domestically, the pressure from large arrivals of imported soybeans was substantial, in addition to inventories of three major vegetable oils at high levels.
Hog: The national average hog price slightly fell but saw limited declines. Localized restocking in secondary fattening kept market fluctuations moderate. Supply remained stable as group enterprises maintained steady production and farmers showed little willingness to sell large hogs. Demand softened after the Labour Day holiday.
Grain: Corn prices softened. In Northeast China, policy auctions weighed on the market, and producers showed little willingness to sell at low prices, keeping transactions weak. Pressure from rice auctions and new-season wheat releases led to increased shipments, prompting downstream buyers to cut purchase prices.
Cotton: The cotton prices rose palpably overseas, but China's domestic gains were limited. A bullish USDA report and ongoing US drought boosted ICE cotton. However, the domestic textile sector has been in an off-peak season with slowing orders, capping price increases.
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