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As of September 24, most Chinese soybean oil mills had sold most of their soybean meal stocks, and domestic stocks hit an all-time high of 1.5 million tonnes. Meal prices were expected near 3,100 yuan/t at end-September, with pressure easing in October and November as imported soybean supplies decline.
Record Chinese meal stocks and incoming import volumes cap near-term Chinese meal prices, but expected October inventory drawdown could support a later price rebound. This affects export demand for soymeal.
apk-inform.comSep 27, 2024After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% over 20.
After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% over 20.
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.
