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Chinese feed ingredient prices on December 30, 2020 showed corn up about 10 RMB/MT, soybean meal up 60-80 RMB/MT and rapeseed meal up 50 RMB/MT, while cottonseed meal, DDGS and fishmeal were unchanged. Corn prices were expected to stay strong into January, citing bad weather in producing areas and advance stocking by traders.
Firmer corn and protein meal prices raise feed formulation costs for Chinese buyers, and advance buying ahead of the Spring Festival supports near-term demand. Weather concerns in producing areas add upside risk.
stcdie.comDec 29, 2020Not 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.
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.
