Soyameal strongest in soya complex – HGCA

30 August 2000

Soyameal emerged as the strongest of the Chicago soya futures complex last week. Nearby positions gained over $7, reflecting the current tight supply
situation on domestic cash markets.

Following seasonal maintenance, soyabean crushing has slowed. Soya oil continued to slide on slow export business and high stocks last week.

Soyabean futures gained support from fund buying, triggered by lower crop ratings and ideas that the crop may be lower than USDAs August forecast.