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Chinese soymeal prices rose nearly 20% in early January 2021 before reversing sharply. The average spot price was 3,773 yuan per tonne on February 2, up 8% from early January.
Soybean oil crush plants in China are shutting down one after another.
Weak terminal feed demand and crusher shutdowns reduce meal output and weigh on soymeal prices, while the vegetable oil margin squeeze adds pressure on soyoil.
sunsirs.comFeb 3, 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.
