UPDATE 1-China’s soybean, soymeal futures fall on African swine fever worries


(Adds details, analyst comment)

BEIJING, Aug 27 (Reuters) – China’s soybean and soymeal futures fell in early trade on Monday, hit by concerns that outbreaks of African swine fever in China may reduce demand for feed, along with forecasts for a record U.S. crop.

China’s soybean futures fell 1.7 percent to 3,594 yuan ($522.84) per tonne, their lowest levels in almost 10 years.

Domestic soybeans are mainly used in the food sector, but they often track soymeal prices.

The most actively traded soymeal futures on Dalian Commodity Exchange for delivery in January dropped 1.9 percent to 3,070 yuan ($446.03) per tonne, their lowest since late June.

High inventories in China also weighed on the market.

“Soybean meal and domestic soybeans are expected to drop further on forecasts of a bumper…

Read More


320ro
  • 1
    Share

Comments

comments