CFO's 29 October update puts Chinese port fishmeal inventory at 221,410 tonnes, with weekly offtake of 29,380 tonnes and arrivals of 17,200 tonnes. Peruvian super prime fishmeal was pre-sold at a reference of USD 1,900 per tonne CNF, down USD 50, and port prices in China fell RMB 100 per tonne.
Soybean meal prices in China are limited by high inventories from heavy crushing.
Falling fishmeal prices and high port stocks weigh on feed protein prices, and expected resumption of US-China soybean trade may also cap soybean meal gains.
Not 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.