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.

 
 

Full version of the report is available at:  https://spoutinfo.com/market-forecast-detail/31/32/271/5118  

 

All rights reserved. No part of the report may be reproduced without permission from eFeedLink.

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