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SunSirs reports China's soybean meal average price rose 2.28% in May to RMB 3,595 per tonne as of May 25, after a 1.29% gain in April. Prices rose after the May Day holiday as US soybean meal futures firmed during the planting period.
Higher Chinese domestic meal prices reflect firm import costs and support feed input costs for Chinese livestock producers. The gain is a routine price move with limited new fundamental driver.
sunsirs.comMay 26, 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.
