January 4, 2023
China Soymeal: Prices rebound on limited availability (week ended Jan 3, 2023)
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Over the week, the closing price of CBOT March soy futures surged 2.8%.
As soymeal production decreased due to the severe covid outbreak in China, prices moved higher despite weakened demand.
Soymeal prices averaged RMB4,730/tonne, rebounding RMB41/tonne or 0.87% compared with the previous week.
Soaring global soy prices, in conjunction with limited soymeal output, will lend support to the market.

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