Ample Supplies of Soya Meal Continue to Weigh on World Protein Markets

摘要

Soya meal prices continue to spiral downward both in the futures and the cash markets, with the nearby quotations on the CBOT nearing a six-year low at US-$ 260 per short ton and the export values of Argentine soya pellets plummeting to US-$ 298 per tonne on Febr 25, implying a discount of US-$ 15-20 to US soya meal offered for export at the Gulf. This season soya meal prices are under heavy pressure not only due to the record world soybean supplies, but also due to the need to crush soybeans for oil to help moderate the shortage of palm oil, rapeseed oil and partly also cotton oil.