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The National Grain and Oil Information Center said on August 6 that a significant drop in Chinese soybean meal prices is unlikely. Domestic meal prices had fallen about 550 RMB per ton, or 18%, over two months, leaving oil mills loss-making and feed firms increasing purchases.
Crushing losses reduce mill output and raise the chance of a rebound, which limits further downside in Chinese meal and supports demand for imported beans.
sunsirs.comAug 7, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
