With the new harvest quickly approaching, the market for previous years’ corn continues to experience downward pressure. However, there is also another significant factor influencing market sentiment.

  Oilseeds Soymeal Inventory Falls for First Time in Six Weeks China’s estimated soymeal inventory totaled 1,302,200 MT as of 11 August, up 451,900 MT (+53.1 percent) versus the same week a year ago but down 110,100 MT (-7.8 percent) from the first week of the month. Falling utilization rates were the main driver of the decline as market demand waned in the first half of August. The largest decreases occurred in the provinces of Guangdong and Fujian where the inventories fell 19,400 MT (-25.5 percent) to 56,800 MT and 20...