Three buyers from South Korea have bought a total of 170,000 tonnes of soybean meal late last week. The courses for this had fallen significantly last week on the futures market in Chicago. See chart.
Behind the buyers the largest feed manufacturer South Korea Nonghyup feed Inc. The deliveries are probably operated from South America. 60,000 metric tons to be delivered mid-December and were priced for 428 USD/ton c & f plus surcharge for a further port of discharge. 55,000 tons cost 431,90 USD/ton c & f for delivery end of December and another 55,000 tons 432 USD/ton cost c & f for arrival on 20 January 2017.
The CBoT soybean meal futures prices declined last week by 6.6%, because in the main growing regions for soybeans in the Midwest of the United States, excellent weather is predicted.
