USDA Supply and Demand Report Unexpectedly Going Bearish, Dragging down Soymeal Price

By CnAgri2014-03-14 10:32:26 Print Soymeal: On Mar. 2nd 2014, the average wholesale price of soymeal is RMB3725Yuan/MT, down 2.94% compared with last week. Latest USDA report brought bearish trend to domestic soymeal spot price, which was unexpected. Under the condition of inventory expansion in oil plants, the outer price decline no doubt worsened domestic soymeal market. BOABC predicts domestic soymeal spot market shall continue declining with fluctuation. Pay attention to outer soybean market trend and operating of domestic oil plants. (Table 7)



From “China Livestock and Feed Market Weekly Report”