Category: Analysis

On Tuesday, Sinograin held the latest round of soybean reserve auctions. 518k tons were available. 201k tons, or 41%, were purchased by the market. The average price was 4,298 yuan per ton, down 42 yuan per ton compared to the previous auction on September 28.

In its monthly China supply and demand estimates, the Ministry of Agriculture cut its feed estimate for 2025/26 by 9.4 million tons and raised its estimate for industry demand by 4 million tons. The reduction in feed demand was attributed to the increased consumption of alternative feeds. It slightly cut feed demand for 2026/27 but… Continue reading CASDE cuts soybean production and corn feed demand

China’s anti-corruption agency announced an investigation into Yu Ke, the Secretary of the Party Committee and General Manager of the Guangxi Branch of China Grain Reserves Group, in the latest anti-corruption action involving state grain stockpilers. China’s previous Minister of Agriculture, Tang Renjian, also held high roles in Guangxi before becoming the Minister of Agriculture.… Continue reading Guangxi grain stockpiling head investigated for corruption

Prices of piglets, hogs, and pork continued to drop this week. Piglet prices were down another 2.1%. Prices have continued to fall to new lows for this series, which goes back to 2018. Live cattle, beef, and milk prices continue to rise this week. Milk prices hit the highest level since February 2025 and beef… Continue reading Protein price update sees piglets fall and milk and beef rice

For the price updates that the National Bureau of Statistics releases three times per month, I’ve added some charts to give a quick overview of the trends over the past five years. The NBS tracks the prices of 50 major commodities, and I’ve also included charts for some major industrial commodities outside of agriculture.

Forage yields were mixed in September due to very significant differences in weather across China’s grasslands. Most grassland areas saw temperatures that were 1-2°C higher than normal, which was positive for late-stage growth of pasture before winter. Rainfall amounts varied, with most of Tibet, Gansu, and Qinghai seeing favorable rains, but rainfall was lacking in… Continue reading Forage yields steady but face wide variation due to uneven rainfall

Sinograin announced the next round of auctions for imported soybeans, with 518k tons being auctioned on October 13. The soybeans are from 2023 through 2025, and the auctions include locations across the country. Since July, Sinograin has auctioned 3.3 million tons of soybeans, with 2.1 million tons purchased by the market.

Summary The market still remains oversupplied even with the seasonal increases in demand going into the winter and around major holidays. Increases in efficiency by large firms have offset some of the reduction in the hog herd, with the government likely needing to further cut the breeding sow target. Policy At the end of September,… Continue reading Hog Update Text – October 2026