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Spot soymeal prices in China jumped as much as 10% in the week to September 24 in processing hubs Guangdong and Shandong, reaching record levels in some provinces. Bloomberg data from Shanghai JC Intelligence show the rally reflects a short-term soymeal shortage.
Tight soymeal supply and higher prices raise feed costs for Chinese hog farmers and could keep pushing pork prices up, supporting demand for soybeans and meal imports.
caixinglobal.comSep 24, 2022Not 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.
