September 21, 2022
China Soymeal: Prices soar 18% in two months (week ended Sep 19, 2022)
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Over the week, the closing price of CBOT November soy futures surged 2.6%.
Tight availability, coupled with soaring global soy costs, propelled soymeal prices in China. Compared with a year ago, soymeal prices were higher by 27%.
Soymeal prices averaged RMB4,849/tonne, increased sharply by RMB221/tonne or 4.8% compared with the previous week. Rising for the eighth consecutive week, prices have surged 18%.
Soymeal prices are set to stay strong with supplies scarce.
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