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Indian soybean meal exports fell 50.6% in June to 25,918 tonnes from May, as domestic prices made Indian meal uncompetitive abroad. Indian meal was quoted near $890 a tonne in mid-July against about $400 FOB Argentina.
Indian exports falling out of the market leave more supply for other origins, which is mildly bearish for world meal prices, while the high domestic price strengthens the case for imports.
thehindubusinessline.comOur BureauJul 16, 2021After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% over 20.
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.
