Livestock and feed prices update
Rapeseed complex trades lower amid large cargo arrivals
Futures contracts for rapeseed complex in China softened across the curve on Wednesday as the count of rapeseed cargo arrivals rose, putting a brake on falling inventory level.
Rapeseed futures on Zhengzhou Commodity Exchange edged marginally lower but the rapeseed meal futures curve dropped 1-2% across the board.
The rapeseed oil curve also nudged lower.
Rapeseed oil inventory in China fell for three consecutive weeks until this week as oilseed crushers slowly ramped up operations after the Lunar New Year holiday while demand for stock replenishment from feed producers and edible oil producers was robust.
An increasing number of cargo arrivals eased short-term supply tightness for the rapeseed complex, putting pressure on futures.
Meanwhile, corn futures on Dalian Commodity Exchange traded sideways on Wednesday after a three-day rally that sent the main contract to its two-week high.
Corn futures rallied against the backdrop of increasing purchases from the Chinese state-owned stockpiler which is looking to restock the national corn reserve.
Futures close
