May 19, 2020                           
China Soymeal Weekly: Surging soy imports exert pressure on market (week ended May 18, 2020)
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Price summary
Prices slid further.
Market analysis
Feed producers continued to withhold buying in anticipation of weaker prices with the CBOT soy futures tumbling. Traders slashed prices to clear storage space in preparation for the upcoming wheat harvests.
With imports plentiful and feed producers treading prudently, soymeal prices will stay soft in Q2.
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