Chinese spot soybean meal purchases stayed stable in the week to August 26 as buyers stocked up before the Double Festival, with 43% protein meal in coastal areas priced at 2,950-3,140 yuan/ton. Prices fell less than futures.
Domestic crush plants are running at high rates and meal inventories remain above one million tons.
Heavy crush and high stocks weigh on near-term meal prices, while expected slow arrivals of imported soybeans in Q4 and Q1 could tighten supply and support deferred contracts.
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.