China's soyameal futures rise

China's soyameal futures rose more than 3% in early trade, posting their biggest daily gain since June 2018, buoyed by strong US soyabean prices on delayed planting. The most actively traded soyameal futures traded on Dalian Commodity Exchange rallied 3.5% to 2,940 yuan ($425.33) per tonne, their highest since November
"US soyabean futures prices rose as planting this year has been slow and might affect the final output. Then there is impact from the weather," said Xiang Bo, analyst, Zheshang Futures. "And with the ongoing trade war, the market mentality is quite bullish on the soyameal," Xiang added. Beijing and Washington remained locked in a trade war that saw no signs of easing, dampening hopes that China will buy more soyabeans from the United States, its second-largest supplier.