Price trend

According to the monitoring data of SunSirs, after the Spring Festival, the terminal feed industry had resumed operation, and the demand for soybean meal had increased. The external market was dominated by negative factors, and the overall soybean meal market was dominated by weak oscillation. On January 28, the average market price of soybean meal was 4,648 RMB/ton. On February 7, the average market price of soybean meal was 4,606 RMB/ton, down 0.9%.

Short and long gamed, soybean meal market consolidated in a narrow range after the Spring Festival

During the Spring Festival, the soybean oil plants were shut down for maintenance, and the pressure on soybean meal inventory was reduced. After the festival, the terminal feed plants began to work one after another, the overall industry recovered, the soybean meal market ushered in an improvement, and the overall price rose slightly, up 0.6%.

In February, the end demand of soybean meal had support, and the inventory fell to 460,000 tons, down nearly 6% on a month-on-week basis. With the support of the bullish market, soybean meal rose again, up 0.65%. Due to the poor performance of American beans in the external market, the soybean meal market rose slightly and then fell back, with a drop of more than 1%.

Market outlook

According to the agricultural product analysts of SunSirs, the demand for terminal feed has warmed since the middle of February, and the soybean meal market is expected to continue to rise in the future.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com