Mysteel's November 13 quotes for Jinshahe by-products show mixed wheat bran in Anhui, Shandong, Shaanxi and Chongqing at 1,404 to 1,664 yuan per tonne. Shandong 3.5-ash second-grade flour fell 20 yuan to 2,104 yuan, and 1.5-ash special flour sells for 2,654 to 2,764 yuan.
Plants are running at normal rates and bran is sold as it is produced.
Wheat middlings and bran are feed inputs, so softer domestic prices and steady demand point to modestly cheaper feed ingredients in China. The effect on the broader grain market is limited.
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.