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Chinese soymeal futures slumped on Friday as traders sold positions amid a wider global selloff. Dalian March futures fell 4.11% to CNY3,427 per tonne, their lowest level in more than three weeks.
Chinese exchanges also issued statements warning of market volatility.
The decline reflects a macro-driven liquidation rather than a change in soybean meal supply or demand. Prices may stay volatile until the selloff in risk assets eases.
fastmarkets.comJohnny HuangFeb 26, 2021Not 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.
