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SunSirs reports China's spot soybean meal price reached 4,170 RMB/ton on July 27, 2022, up 3.06% from July 20. The rise followed weather speculation in overseas markets that lifted soybean futures and domestic meal futures.
Weather-driven overseas soybean rallies pass through to Chinese meal prices, raising feed input costs. The analyst notes weather risk remains, implying further upside potential.
sunsirs.comJul 28, 2022After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
