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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