Soybean meal futures on China’s Dalian Commodity Exchange continued to edge higher on Wednesday as concerns of a lower-than-expected Brazilian and Argentinian 2021/22 crops are in the limelight.
The most liquid DCE soymeal contract gained another 1% on Wednesday to reach the highest level since late August 2021 at 3,298 yuan/ton (US$518/ton).
DCE soymeal futures have largely been trailing the movement of CBOT soybean futures as the latter also jumped to $13.78/bu, the highest level since mid-Aug...