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Chinese soybean meal fell 1.92% over the first half of July after a sharp rally in late June. The rally followed a lower-than-expected USDA estimate of US soybean stocks, the lowest in six years, released July 1.
Persistent inventory pressure in China caps meal futures, so Chinese meal prices are likely to stay range-bound until demand from hog producers picks up.
sunsirs.comJul 15, 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.
