On November 12, the price trend of ammonium nitrate in Hebei region remained stable for the time being. The mainstream negotiation price in the market was 4,000-4,200 yuan per ton. The production operation of merchants in the market was stable. Recently, the price of upstream raw material market fluctuated, and the downstream procurement situation was not good. The market trend of ammonium nitrate was stable.

The U.S. Department of Agriculture lowered the ending stocks of U.S. soybean meal by 50,000 short tons to 400,000 short tons, but it increased by 20.1% year-on-year. The annual average price of soybean meal is expected to remain unchanged at $340.00 per short ton.

Malaysia's palm oil inventory stood at 3.62 million tons at the end of October, marking the second consecutive month of hitting a record high as production in the month also reached a new peak. However, this inventory figure was lower than the market expectation of 3.75 million tons.