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Indian soybean meal prices have fallen over 19% from a year earlier due to a bumper domestic harvest and weak overseas demand. SOPA reports India's 2016-17 soybean output at 108.789 lakh tonnes versus 69.288 lakh tonnes the prior year.
Exports are stalled because Indian meal is priced above international rivals.
Heavy Indian supply and uncompetitive export pricing keep downward pressure on global soymeal values, a cheaper feed protein option for buyers. Exports are expected to stay near 1.2-1.5 million tonnes, limiting outside demand.
timesofindia.indiatimes.comTNNMay 21, 2017Not 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.
