Soya Meal Under Additional Price Pressure to Find Demand Higher than expected production of sun meal is contrasting with the downward revision in soya meal.Rising grain production is likely to curtail the growth of world oilmeal demand in 2019/20.

摘要

Prices of soya meal continued to decline in recent weeks in many parts of the world,pressured by abundant supplies and stiff competition between major exporters on the one hand and global demand only partly keeping up with available quantities on the other.Furthermore,a substantial recovery in this year's world production of wheat and a further growth of the corn crop and export supplies both in South America and the CIS countries are making it increasingly difficult for soya meal to find demand.Even in view of declining prices,the competitiveness of soya meal relative to wheat and corn has deteriorated so far in August,as shown in the graph depicting price relationships between nearby soya meal,wheat and corn futures on the Chicago Board of Trade.