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On November 4, 2026, COFCO oil mills in Hubei lowered ex-works prices for 43% soybean meal. Huanggang quoted 3150 yuan/ton for November and Jingzhou 3180 yuan/ton, with basis quotes against the M2701 contract ranging from M2701+30 to +70 for later delivery months.
Lower mill prices and firm forward basis levels point to weak domestic meal demand and ample supply, which tends to pull spot meal values down in central China.
ncp.mysteel.comNov 4, 2026Not 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.
