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
- 2025-04-28 SunSirs: The Supply of Imported Soybeans is Guaranteed in China, and the Short-term Price Increase of Soybean Meal is Difficult to Sustain
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- 2025-04-25 SunSirs: Positive Support, China Soybean Meal Market Continues to Rise
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- 2025-04-21 SunSirs: Statistics of China's Soybean Meal Import and Export in March 2025
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