December 22, 2020
China Soymeal: Prices rise amid strong CBOT futures rebound (week ended Dec 21, 2020)
Over the week, prices of CBOT March soy futures surged a whopping 5%.
Despite China government's efforts to tame inflation, soymeal prices rebounded amid soaring global soy futures prices. Nonetheless, abundant availability limited the price hikes.
Feed production is projected to diminish during December, hence curtailing soymeal demand。 Crushers will hold prices down in a bid to ease mounting inventory pressure.
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