Futures for vegetable meal and oil in China jumped sharply in the first trading day after the week-long Lunar New Year holiday as concerns of lower Brazilian soybean output and higher crude oil price spilled over.
The main soymeal contract on Dalian Commodity Exchange (DCE) gapped up nearly 8% by mid-Monday to 3,636 yuan/ton (US$572/ton), the highest level since mid-August last year.
The most liquid rapeseed meal futures contract on Zhengzhou Commodity Exchange (CZCE) also surged to an all-time ...