March 15, 2022

China Soymeal:  Prices break new records (week ended Mar 14, 2022)

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Over the week, the closing price of CBOT May soy futures increased 0.94%.

Fears of supply shortages continued to lift soymeal prices prominently over the week. Prices finally surged past 2012's historic highs, making a new record that is 3.6% higher.

Soymeal prices averaged RMB4,864/tonne, surging RMB254/tonne or 5.5% compared with the previous week.

Soymeal prices are poised to stay firm with crushers limiting output and global soy costs on the rise. Unless China government releases substantial quantity of reserves soy, soymeal prices are expected to soar further.

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