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Soybean meal prices fell significantly across Chinese regions over the weekend of May 20-21, 2023, following a continued decline in CBOT soybean futures. Crushing volume rose sharply in the prior week according to the National Grain Corporation, and the report cites a theoretical imported soybean cost and an oil-meal ratio of 2.06 for September.
Weaker CBOT soybeans and rising Chinese crush weigh on meal prices, pointing to lower meal costs for buyers in the near term.
bnher.comIvyMay 22, 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.
