# Mysteel Analysis: Strong Supply, Weak Demand—Current Supply-Demand Picture for Corn Byproducts

> By November 6, corn inventories at Chinese deep-processing plants had risen by 616,000 tonnes from October 9 to 3.052 million tonnes, while the operating rate recovered to 62.65%. Production of protein powder and fiber increased, and starch stocks reached 1.4025 million tonnes; feed buyers continued to purchase as needed, while lower soybean meal prices weakened the price competitiveness of protein powder.

- Date: 2026-11-09 · published 2026-11-09T07:36:42.670Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/89046-mysteel-analysis-strong-supply-weak-demand-current-supply-demand-picture-for
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Growing processing output and inventories alongside restrained feed-industry buying create pressure on corn byproduct prices. The report describes a weak near-term market, with a recovery dependent on lower plant operating rates or stronger demand.

## Read by commodity

- SBM: bearish ▼

## Sources

- ncp.mysteel.com: https://ncp.mysteel.com/a/26110616/F912601A933B5212.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.