Commodity News
SunSirs: CBOT Soybean Meal Closed Up, with the Benchmark Closing Up about 2.5% on September 3
September 04 2024 15:26:44 SunSirs (Selena)
On September 3rd, Chicago Board of Trade (CBOT) soybean meal futures closed higher, with the benchmark period closing up about 2.5%, as China plans to launch an anti-dumping investigation on Canadian rapeseed, boosting sentiment in the soybean and soybean meal markets.
After the Trudeau government announced tariffs on Chinese made electric vehicles, steel, and aluminum last Monday, China responded on Tuesday by stating that it will launch an anti-dumping investigation into Canadian rapeseed. After the announcement of this news, rapeseed meal futures on the Zhengzhou Commodity Exchange surged 6%, reaching the highest point since August 6th.
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Related Information
- 2025-04-30 SunSirs: It is Expected that the Domestic Soybean Meal Spot Price will Turn from Strong to Weak in May
- 2025-04-29 SunSirs: The Spot Price of Soybean Meal is rapidly Rising in China, Pushing Up the Feed Costs of Breeding Enterprises
- 2025-04-28 SunSirs: The Supply of Imported Soybeans is Guaranteed in China, and the Short-term Price Increase of Soybean Meal is Difficult to Sustain
- 2025-04-27 SunSirs: Brazil's Market Share in the EU Soybean Meal Market Dropped to 50% on April 20
- 2025-04-25 SunSirs: Positive Support, China Soybean Meal Market Continues to Rise
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