June 2, 2020
China Soymeal Weekly: Market ends six-week tumble (week ended Jun 1, 2020)
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Demand for soymeal showed little improvement while livestock prices stayed weak, hence curtailing the production of feed. However, soymeal prices, which have tumbled 14% since early April, consolidated higher as crushers stood firm poor returns.
Weekly soymeal prices rebounded RMB13/tonne or 0.46% to RMB 2,814/tonne on average.
Ample availability will continue to limit the upward scope of soymeal prices. However, as the political tension between the US and China grows, concerns over soy imports will prompt sellers to be cautious with price negotiations.
Full version of the report is available at https://spoutinfo.com/market-forecast-detail/31/32/271/1834
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