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Chinese wholesale soybean prices were down 20% year on year in November 2023, at about USD 0.64/kg. The drop is attributed to weaker soybean meal demand linked to low hog prices and a weak economy.
Lower hog-sector demand for meal reduces crush margins and import demand for soybeans, which is bearish for soybean and soybean meal prices.
tridge.comLei WangDec 14, 2023Not 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.
