Loading…
SunSirs data show China's soybean meal futures and spot prices fell about 1.4% over August 2020, from RMB 3,045 to RMB 3,002 per ton on average. Prices dropped more than 3% early in the month as feed demand weakened and imported soybean arrivals rose sharply.
Meal stocks reached about 1 million tons by August 20, up more than 10% week on week.
Heavy port arrivals and rising meal inventories in China point to continued pressure on domestic soybean meal prices and reduced import pull for meal. Lower Chinese meal values may weigh on global meal export prices.
sunsirs.comAug 31, 2020Not 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.
