Review of China's Soybean Market in 2014 and Outlook in 2015

In 2014,the weather ofthe global major soybean producing areas is better,South American soybeans and U.S. soybean harvest at the same time,the global soybean production for three consecutive years the global soybean supply pattern to loose. Beauty bean production in the new season to an all-time high of background, the beans at the end of the high inventories of 8 years,the bean futures back in nearly four years,low domestic soybean import prices continue to fall,the soybean meal production costs have fallen sharply, soybean meal prices have been falling. At the same time, domestic rapeseed and DDGS imports increased dramatically this year, weigh on comprehensive protein raw materials market. Overall, 2014 domestic soybean meal spot for an average of 3682 yuan/ton,compared with 2013 fell407 yuan/ton,down 9.97% year-on-year. Expects 2015 global soybean market supply to maintain loose pattern, and China's livestock and poultry market difficult to significantly improve demand for soybean meal,domestic soybean meal market in 2015 will continue to run low.