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China's soymeal price averaged 2,846 yuan/ton in May, down 333 yuan from April as crush operations rose with a rebound in soybean imports. Soybean arrivals from May to August are estimated at 9-10 million tons, with crushing at or above 8 million tons monthly.
COVID-19 is also weighing on livestock demand.
Rising crush and soymeal stocks in China pressure soymeal prices, while weak meat demand limits feed buying and the downside depends on South American export logistics.
en.cnagri.comJun 12, 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.
