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China's soybean meal average price fell to about 2800 yuan/ton on December 20, down roughly 7% since December 1. Rising arrivals of imported and domestic soybeans, higher crushing output and sluggish terminal feed demand are weighing on the market.
Heavier crush supply and weak feed-industry buying push domestic meal prices lower, and the analyst expects a further slight decline. Cheaper Chinese meal also reduces import demand for competing South American meal.
tridge.comDec 26, 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.
