According to the commodity market analysis system of SunSirs, the soybean meal market in June showed weak upward momentum, with weak downward trend as the main trend. As the end of the month approached, the decline slowed down, with a slight rebound and an overall oscillating decline. On June 1st, the average market price of soybean meal was 3,430 RMB/ton. On June 24th, the average market price of soybean meal was 3,302 RMB/ton, a decrease of 3.73%.

In early June, after the decline in the soybean meal market, the market experienced a slight increase due to the external market pull. After the Loong Boat Festival, due to the continuous increase in the arrival of raw soybean imports to Hong Kong, the soybean meal inventory continues to increase, the market supply is loose, the terminal feed factory purchases cautiously, the market turnover is average, the soybean meal market continues to decline, the average market price dropped to 3,380 RMB/ton, a decline of nearly 5%. Towards the end of the month, due to the significant decline of soybean meal, it has fallen to a historical low, and the external market has improved. Manufacturers have raised prices, resulting in a slight increase in soybean meal prices. The market average price has risen to the first line of 3,300 RMB/ton.

The agricultural product analyst from SunSirs believes that the foreign market of American soybeans is in the growth period, and the bullish trend is still there. The soybean meal market in July is expected to rise.

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