June 6, 2023

China Soymeal: 14% price dip in three weeks (week ended Jun 5, 2023)

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Over the week, the closing price of CBOT July soy futures strengthened 1.1%.

Soymeal prices continued to fall for the third week as feed producers limited purchases. Over the past three weeks, soymeal prices have plummeted 14%.

Soymeal prices averaged RMB3,766/tonne, plunging RMB265/tonne or 6.6% compared with the previous week.

Soymeal prices are set to stay weak with supply exceeding demand.


Full version of the report is available at:  https://spoutinfo.com/market-forecast-detail/31/32/271/4845

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