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Analysts at Zhuochuang expect China's 43% soybean meal spot prices to fall first and then consolidate in November, with a monthly range of 3180-3300 yuan/ton. October averaged 3310 yuan/ton, down 1.15% month on month, after the USDA report surprised bearishly and US soybean selling and a weaker Brazilian real pressured costs.
Domestic soybean arrivals are forecast at 9.2 million tonnes, and weak hog margins and substitution by other meals are limiting demand.
Ample imported soybean supply, high crush-plant inventories and weak feed demand point to lower domestic meal prices, while cost support from crush losses limits the downside.
7hcn.com七禾网Nov 5, 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.
