August 26, 2020
China Soymeal Weekly: Prices stay stable (week ended Aug 24, 2020)
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Over the week, prices of CBOT November soy futures increased 0.67%.
Feed producers withheld purchases as the availability of soymeal increased amid ample soy supplies. Prices of soymeal consolidated following the previous week's significant fall.
Abundant availability will hold down soymeal prices in the near term. Expanding hog feed consumption will lend some support to the market but is less likely to push up prices tremendously.
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