December 7, 2023
China Soymeal: Prices dip over 7% in three weeks (week ended Dec 4, 2023)
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Over the week, the closing price of CBOT January soy futures inched lower by 0.42%.
Buyers continued to hold back purchases in view of lower soymeal prices as the global soy market stayed weak. Falling for the consecutive third week soymeal prices decreased 7.3% accumulatively.
Soymeal prices averaged RMB3,962/tonne, sliding RMB153/tonne or 3.7% compared with the previous week. Year-on-year, soymeal prices were lower by 22%.
Prices of soymeal are expected to move lower with the global soy market weak and the outlook of China’s economy bleak.

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