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Chinese soybean meal averaged RMB 3,715 per tonne at the end of August, up 2.27% from RMB 3,632 at the start of the month. The rise followed a bullish USDA report and strong purchases of US soybeans by Chinese buyers, despite earlier corrections from high port stocks.
Higher Chinese meal prices reflect firmer import demand for US soybeans, supporting global soymeal and soybean values, though weak terminal demand limits the rally.
sunsirs.comAug 31, 2021Not enough comparable past events yet for a historical read.
Not 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.
