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The CFR China flat soybean price closed 2024 down 24% year on year at $439.91/mt as of Dec. 12, and market watchers expect it to slip to $400-450/mt in Q1 2025.
Brazil's soybean output is projected at a record 169 million mt for 2024-25, up 10.5%, and Brazil has overtaken the US as China's largest supplier.
Record Brazilian supply and flat Chinese demand point to lower soybean import prices, which feeds through to cheaper soybean meal for feed buyers. Chinese buyers are still front-loading US purchases ahead of possible tariffs, which limits the downside.
ukragroconsult.comDec 20, 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.
