October 7, 2022
China Soymeal: Prices break new highs (week ended Oct 3, 2022)

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Over the week, the closing price of CBOT November soy futures slid 1.1%.
With supply tight and demand stable, soymeal prices remained firm despite dropping global soy prices. Soymeal prices broke new records, after soaring 27% in ten weeks.
Soymeal prices averaged RMB5,206/tonne, rising by RMB110/tonne or 2.2% compared with the previous week.
Soymeal sales are set to slow as prices hit new highs. Prices are likely to consolidate lower in the near term.

Full version of the report will be available at https://spoutinfo.com/market-forecast-detail/30/32/277/4415

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