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Chinese soymeal spot prices fell to about 3,100 yuan per ton on April 16, down more than 150 yuan from earlier in the month. The decline reflected weaker US soybean prices, meat plant closures and easing port soybean tightness.
Soymeal futures also dropped.
Weaker US beans and reduced meat processing lower feed meal demand in China, the largest importer. Ample port soybean stocks reinforce the downward pressure on soymeal prices.
sunsirs.comApr 17, 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.
