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Chinese soymeal futures and spot fell during the week of October 26 to November 1. The Brazilian real plunged about 12% in one day after Lula's re-election, and US soybean harvest reached 79%, pushing CBOT soybeans to a two-and-a-half-month low.
The M2701 contract closed at 3,183 yuan/tonne, down 93 yuan on the week, and spot 43% protein averaged about 3,200 yuan/tonne.
Currency-driven export competitiveness from Brazil and fast US harvest weigh on import costs, while China's high meal inventories keep demand soft. Prices may stabilize near current levels until year-end buying picks up.
chinafeed.com.cnNov 4, 2026Not enough comparable past events yet for a historical read.
Not 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.
