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Soybean prices on China's Dalian exchange have dropped to a four-month low, and soybean meal has hit a one-year low. Analysts cite China's economic slowdown, COVID restrictions, power outages and possible African swine fever effects as potential causes.
U.S. new-crop sales are 33% below year-ago levels.
Weaker Chinese crush and feed demand combined with slow U.S. export sales is bearish for soybean and soymeal prices during the usual fall export period.
ukragroconsult.comNov 11, 2021Not 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.
