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China's soybean meal futures fell through much of November after an early spike, and the average spot price was 3,277 yuan/ton on November 24, down 0.76% from the start of the month. SunSirs says supply is loose and the market rebounded only weakly mid-month.
Ample Chinese meal supply and weak domestic prices reduce demand for imported soymeal, which weighs on global meal prices despite tight US supplies.
sunsirs.comNov 26, 2020Not 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.
