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Comparison of Commodity Prices in China with CME Quotations.

12/15/2021

The relative prices expressed in US$ per short ton for corn, soybeans and soybean meal, January 2022 delivery, were downloaded from the Dalian Commodity Exchange website reflecting major contracts at close of trading on December 15th.  These values were compared with the spot price at close of trading on the CME as indicated:-

 

Commodity

Dalian CE

52-week range

CME 12/15

Corn

XV $381*

$311-$388

$210

Soybeans #2

XS $588*

$471-$657

$423

Soybean Meal

XU $470*

$406-$503

$375

* short ton with exchange rate CNY 6.40=US$1

It is evident that due to the higher price of feed, producers of hogs, eggs and conventional broilers in China are at a disadvantage in production cost compared to their counterparts in the U.S. and Brazil.

 

Large eggs (57g) traded on the Dalian exchange at 74 cents per dozen.