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.

Full version of the report is available at:  https://spoutinfo.com/market-forecast-detail/31/32/271/4116         

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