August 12, 2020                      
China Soymeal Weekly: Prices consolidate lower from high levels (week ended Aug 3, 2020)
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Market analysis 
Over the week, prices of CBOT November soy futures dropped significantly by 2.8%.
Crushers in China stepped up production while soy availability increased. With supplies ample and the global soy market weakening, soymeal prices in China moved lower during the week in review.
Soymeal market is expected to consolidate lower in the near term amid high crushing volumes.  In the longer term, soymeal market is projected to stay strong due to low soy production in China.
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