According to the Commodity Market Analysis System of SunSirs, since July 16th, the domestic soybean meal market has rebounded and fluctuated upwards. On July 16th, the average market price of soybean meal was 3,084 RMB/ton, and on July 24th, the average market price of soybean meal was 3,144 RMB/ton, with a price increase of 1.95%.

After mid July, due to the tight supply of substitute rapeseed meal raw materials and the boost in prices, the soybean meal market improved and prices continued to rise. The excellent rate of US soybeans in the foreign market has increased, while soybean futures have declined. Domestic soybean meal futures have followed suit and declined, dragging down the spot market for soybean meal. After the price rose, it experienced a pullback. As of July 24th, the average market price of soybean meal was 3,144 RMB/ton, a daily decrease of 0.38%.

The soybean meal analyst from SunSirs believes that the demand for terminal feed is weak, the supply of imported soybeans as raw materials is loose, and the pressure on soybean meal inventory is still present. The future soybean meal market will continue to rise weakly, with weak declines being the main trend.

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