CBoT soybean prices are recovering slightly this morning from the three-week low they traded yesterday. However, prices remain under pressure in the corona pandemic.
Because some US meat processors have had to close their factories, less soybean meal is in demand. Traders in Singapore still rate soybean meal prices too high, as demand for them is dwindling.
In US slaughterhouses, many employees had contracted the coronavirus last week and many plants had stopped working. As a result, less feed such as soybean meal is expected to be in demand.
In addition, China's soybean demand fell 13% in March 2020 compared to March 2019. 
Source
Hansa Terminhandel GmbH
