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China's soybean meal prices followed overseas strength in July, supported by CBOT rallies on weather, bullish USDA data and expected Chinese purchases. Domestic spot gains were limited by inventory build-up and weak demand, leaving spot basis negative.
Crop conditions in US soybean areas remain under heat and drought stress.
Domestic stock accumulation and negative basis signal weak Chinese demand for meal, which limits the price transmission from global futures. Import demand may stay subdued unless the spot market tightens.
mysteel.netJul 30, 2026Not 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.
