Soybean Prices in China Decreased by 20% YoY Due to Low Soybean Meal Demand

Soybean

Soybean Meal

China

Market & Price Trends

Published Dec 14, 2023

During Nov-23, the wholesale price of soybean in China was USD 0.64/kg, marking a 20% YoY decrease. The price drop is due to reduced soybean meal demand caused by the low hog prices. Given China’s weak economy and low hog prices, the soybean demand is expected to continue to decline shortly.

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