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.



Full version of the report is available at:  https://spoutinfo.com/market-forecast-detail/31/32/271/4522

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