May 12, 2020              
 
China Soymeal Weekly: Traders clear stocks amid soft demand (week ended May 11, 2020)
                                                                                  
An eFeedLink Exclusive
 

Price summary
 
Prices moved lower.
 
 
Market analysis
 
Despite stronger CBOT soy prices, soymeal market weakened in China. Trade was light as feed producers limited buying in anticipation of weak prices. Meanwhile, several traders negotiated prices to clear stocks in preparation for the upcoming harvests of rapeseed and wheat
 
Soy availability will be ample as imports from Brazil are expected to reach or even exceed 2 million tonnes. With supplies set to remain high while feed producers limit purchases, soymeal market will stay soft in the near term.
 
Full version of the report is available at https://spoutinfo.com/market-forecast-detail/31/32/271
 


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