Singapore

NOBODY told China's soybean meal traders that the frenzy in commodities is over.

While trading in everything from steel to cotton futures collapsed following steps by the country's regulators to deflate a speculative bubble in April, the volume of soymeal contracts has continued to expand. The amount of the animal feedstock changing hands in a single day on the Dalian Commodity Exchange is more than the US consumes in an entire year and dwarfs trade on the Chicago Board of Trade.