On July 16th, the National Grain and Oil Information Center reported that the price of soybean meal in China is mainly affected by the trend of American soybeans and the domestic supply and demand situation. Internationally, in the past month, the United States has received abundant rainfall, and the soybean yield has rebounded, resulting in a significant decline in American soybean prices; Domestically, since mid June, soybean meal inventory has continued to increase and prices have continued to decline.

It is expected that domestic soybean meal will continue to accumulate in July, firstly due to the large amount of imported soybeans arriving at the port in July, and oil factories will continue to maintain a high operating rate; Secondly, the market is generally bearish on the future market, coupled with rainy weather that is not conducive to soybean meal storage, resulting in slower downstream delivery. Combined with the overall good weather in the US soybean production area, it is expected that domestic soybean meal prices will maintain a weak and fluctuating trend in July.

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