May 17, 2022

China Soymeal:  Prices higher by 14% on-tear despite 20% plunge from March high

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Over the week, the closing price of CBOT July soy futures rebounded 1.5%.


Even as soy import costs increased, weak demand continued to drag done soymeal prices. Compared with March’s record high prices, soymeal prices have plummeted 20%. However, compared with a year ago, prices were still higher by 14%.


Soymeal prices averaged RMB4,156 /tonne, tumbled   RMB156/tonne or 3.7% compared with the previous week.


With soymeal prices substantially higher on-year, feed producers will limit purchases, particularly as feed demand is limited.



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