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SunSirs, citing the National Grain and Oil Information Center, expects China's domestic soybean meal prices to fluctuate narrowly in the near term. US soybean prices are forecast to stay weak on a strong US crop and improving Brazilian planting conditions.
Domestic meal inventories remain high at nearly 1 million tons, and weak downstream feed demand limits any rebound.
Weak US soybean prices and high Chinese meal stocks point to soybean meal staying under pressure, which weighs on meal values for feed buyers. Strong crush margins keep processing high and add to supply.
sunsirs.comOct 25, 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.
