Animal Proteins – International

The MBM market into China was steady with sources reporting that activity was lessening by the day ahead of the CNY holiday. Indonesia was reported at a flat $450 CIF. Concerns over soybean production in South America and lower USDA projections have helped steer the CME March SBM contract up 11.5% over the last week. Buyers have taken note and have been more willing to pay the higher asking prices. US sellers are in a better position as well, which…