# Soybean Prices in China Decreased by 20% YoY Due to Low Soybean Meal Demand

> 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.

- Date: 2023-12-14 · published 2023-12-14T12:00:00.000Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/32687-soybean-prices-in-china-decreased-by-20-yoy-due-to-low-soybean-meal-demand
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Lower hog-sector demand for meal reduces crush margins and import demand for soybeans, which is bearish for soybean and soybean meal prices.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Sources

- tridge.com: https://www.tridge.com/data-insights/soybean-prices-in-china-decreased-by-20-yoy-due-to-low-soybean-meal-demand

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.