September import snapshot; Grain prices update; Hog futures sink

Agricultural imports in September

Grain and fertilizer prices update

Domestic soybean futures tank to 3-mth low, hog futures sink

No.1 (non-GMO) soybean futures on Dalian continued its selling streak on Monday, nudged slightly lower on the day to touch the lowest level in three months. The main contract closed at 5,588 yuan/ton ($772/ton).

The contract is down more than 6% in the past month as China is estimated to harvest a bumper soybean crop this year.

No.2 soybean (GMO) also edged lower on the day.

Hog futures in China were also under large selling pressure on Monday amid continuous government measures to cool price inflation.

The main contract (January 2023 delivery) was down nearly 4% day on day to 22,520 yuan/ton ($3,110/ton), almost a one-month low for the contract.

Meanwhile, edible oil futures traded 1-2% lower across the board against the backdrop of a higher rapeseed production in China this year.