# Chinese soymeal plunges 6% for biggest drop in nearly 10 years - Shipping Herald

> China's most active soybean meal futures on the Dalian Commodity Exchange fell 5.5% to 3,891 yuan a tonne, their biggest decline since February 2013. Soyoil also dropped 4%, following a sharp fall in overseas edible oil markets. Chicago soybean prices have reportedly fallen 20% over the past two weeks.

- Date: 2022-06-24 · published 2022-06-24T12:00:00.000Z
- Category: market · region China · magnitude medium
- Page: https://feedsoft.ai/events/41022-chinese-soymeal-plunges-6-for-biggest-drop-in-nearly-10-years-shipping-herald
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Weak Chinese crush-product prices and rising domestic meal inventories reduce import demand for soymeal and soybeans, putting downward pressure on global protein meal prices.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼

## Sources

- shippingherald.com: https://www.shippingherald.com/chinese-soymeal-plunges-6-for-biggest-drop-in-nearly-10-years/

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