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Comparison of Commodity Prices in China with CME Quotations.

 06/12/2020

The relative prices expressed in US$ per short ton for corn, soybeans and soybean meal, July delivery, were downloaded from the Dalian Commodity Exchange website reflecting major contracts during the week ending Friday June 12th. These values were compared with the CME quotation at 14H00 for June 12th for July delivery indicated in parentheses. 

 

Commodity      Dalian CE                CME

Corn.                    $260*                ($119)

Soybeans.            $495*                ($289)

Soybean Meal       $381*                ($289)

 

 

* short ton with exchange rate CNY7.07=US$1

 

Soybean meal has increased by $120 per ton since mid-May on the Dalian exchange.

It is evident that due to the higher price of feed, producers of both eggs and conventional broilers in China are at a disadvantage in production cost compared to the U.S. and Brazil. Eggs traded on the Dalian exchange at 33 cents per dozen.