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EN
China’s soybean demand slows amid soymeal glut
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The Cattle Site
A slowdown in Chinese demand could pressure Chicago soybean futures, which are already down for a second consecutive week on expectations of a bumper US harvest.
China's soymeal futures DSM fell for a fourth straight session on Tuesday amid ample supplies.
"If third-quarter prices stay weak and crushers face losses, fourth-quarter soybean purchases may fall short of expectations," Wang said.
The glut has been worsened by weak demand from animal feed producers amid sluggish meat consumption in the world's top pork market.
China's purchases of Argentine soymeal, amid high tariffs of US beans, in the last few weeks are likely to add to the glut.
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