
Chinese soybean meal spot prices fell to 2,760 yuan per tonne in several regions, below the start-of-year low. The September DCE contract closed at 2,918 yuan after falling 37 yuan.
Large South American soybean imports and high crush utilization are boosting meal output.
Rising meal supply from heavy imports and crushing, plus cheaper US soybeans, pressures Chinese and global meal prices lower.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
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.
Chinese meal prices at multi-year lows from large South American imports and high crush signal ample global supply, weighing on meal values.
Chinese meal spot and DCE prices fell to multi-year lows on heavy imports and high crush, a bearish global signal.