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Surprise rally catches Asian feed millers short

Corn and soymeal prices unlikely to drop back near lows seen in early October, say analysts and traders

Soymeal has eased 3.6 per cent this past week and corn has given up nearly 2 per cent as US harvests gather pace.


ASIAN feed millers have missed the boat on multi-year-low corn and soymeal prices after a surprise rally in the futures market over the past few weeks, leaving them with hefty costs even as global supplies hit record highs.

Several millers in Asia's top importers,