June 17, 2020
China Soymeal Weekly: Lacklustre demand, weak prices (week ended Jun 15, 2020)
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Demand for soymeal remained soft while the sales of hog feed were limited. Meanwhile, new outbreaks of the Wuhan coronavirus in Beijing sparked fears that the second wave of the pandemic might have started in China. Buyers withheld buying amid cautious mood.
Soymeal market is expected to stay weak in the near term amid lacklustre demand. However, crushers will not be keen to lower prices further at current lows.
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