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Dalian soymeal futures fell 2-3% to a two-month low on March 10, with the most liquid contract down 2.36%. Traders cited new ASF outbreaks, expectations of less soymeal use in feed, and a bearish WASDE report, while corn futures also dropped to a one-month low.
Expectations of lower soymeal and corn use in Chinese feed weigh on meal and corn prices, as feed firms substitute wheat for corn and meal.
fastmarkets.comJohnny HuangMar 10, 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.
