Today, Zhengzhou rapeseed meal futures opened lower and then fluctuated downward.

Zhengzhou rapeseed meal futures inched lower at the open today, then traded sideways and fell. Canadian rapeseed futures closed higher; the benchmark contract rose 0.7% at settlement, recouping most of Monday’s losses, mainly driven by strength in international crude oil and Chicago soybean oil. Cash prices for rapeseed meal were weak and declined. On one hand, domestic demand remained lackluster, and coastal inventories increased month-over-month, easing market concerns about the supply side; on the other hand, support from soybean meal costs weakened, dragging on the price trend of rapeseed meal. Looking longer term, expectations for a relatively ample supply of rapeseed meal in China remain strong, and in the near term prices are likely to keep consolidating and adjusting. (Feed Industry Information Network)