July 19, 2023


China Soymeal: Prices surge 7% in two weeks (week ended Jul 18, 2023)


An eFeedLink Exclusive

 
 


Over the week, the closing price of CBOT November soy futures surged  4%.


As global soy prices surged over 20% since early June, crushers lifted the prices of soymeal for the second week to sustain profit margins. However, following the previous week’s 6% upsurge, price hike slowed over the week.


Soymeal prices averaged RMB4,231/tonne, increasing RMB33/tonne or 0.79% compared with the previous week. Year-on-year, prices were 2.2% higher.


Over the past two weeks, soymeal prices have increased almost 7%. Soaring soy costs will continue to underpin soymeal prices in the coming period.

 

 

Full version of the report is available at:  https://spoutinfo.com/market-forecast-detail/31/32/271/4918

 

All rights reserved. No part of the report may be reproduced without permission from eFeedLink.

Video >

Follow Us

FacebookTwitterLinkedIn