May 4, 2024
China Soymeal: Prices dip 6% in April (week ended Apr 29, 2024)
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Over the week, the closing price of CBOT July soy futures rebounded by 1%.
Soymeal prices rebounded slightly, ending the four-week tumble since late March. Prices of soymeal have decreased over 6% during April.
Soymeal prices averaged RMB3,349/tonne, rebounding RMB5/tonne or 0.15% compared with the previous week. Year-on-year, soymeal prices were lower by 21%.
Soymeal market will remain soft with the production of feed limited. Price rebounds, if any, are expected to by modest.

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