Latest price of soybean meal (August 21): 5016 RMB/ton, bullish in the future

Analysis points: On August 21st, the soybean meal market saw a significant increase, with a price increase of 3.51% compared to the previous trading day. Since August, the growth period of American beans in the external market has been affected by the El Ni ñ o phenomenon. The excellent rate of American beans has remained low, and the futures price of beans in the external market has continued to rise. The domestic soybean meal futures market has continued to rise, with spot prices rising. As of the 21st, the average spot price of soybean meal has exceeded the 5000 RMB mark, an increase of over 12% compared to the beginning of the month.

Future forecast: Positive factors are still present, and it is expected that the soybean meal market will continue to rise in the short term.

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