On August 26th, the National Grain and Oil Information Center reported that the physical inventory of soybean meal in domestic feed enterprises is 5-10 days, and the total contract inventory is basically around one month. Feed enterprises generally do not have a good outlook on the future market, and their stocking enthusiasm is not high.

Due to the significant drop in soybean meal prices in the past two months, most traders have incurred losses in purchasing soybean meal, and there is a lack of motivation to continue purchasing soybean meal, with a focus on purchasing as needed. In the context of high soybean yield and soybean meal inventory expansion in oil factories, it is expected that the pressure on the supply side of soybean meal will remain high in September, and prices will remain weakly volatile.

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