According to the Commodity Market Analysis System of SunSirs, the soybean meal market experienced a rebound after fluctuating and falling in August, with prices at the end of the month similar to those at the beginning of the month. On August 1st, the average market price of soybean meal was 3,020 RMB/ton, and on August 27th, the average market price of soybean meal was 3,006 RMB/ton, a decrease of 0.46% in price.

Coexistence of long and short factors: August soybean meal market hits bottom and rebounds after hitting bottom

From August 1st to 14th, the domestic soybean meal market experienced a sharp drop and continued to decline, dropping to 2,878 RMB/ton, a decrease of 4.7%. Starting from August, as temperatures rise and rainfall increases, the demand for feed in the terminal breeding industry continues to decline, and the amount of soybean meal purchased by feed factories is limited. The number of imported soybeans arriving at the port continues to increase, with high soybean meal inventories and multiple negative pressures, causing the soybean meal market to fluctuate and decline.

From August 15th to 27th, the soybean meal market bottomed out and rebounded, oscillating upwards and rising to 3,006 RMB/ton, an increase of 3.23%. In late August, the demand for terminal feed improved, coupled with the soybean meal market falling to the bottom, manufacturers raised prices, and the futures market rose. Soybean meal saw an increase and returned to the 3,000 RMB mark.

The agricultural product analyst of SunSirs believes that in September, the rigid demand for terminal feed increased, and the soybean meal market is expected to continue to rise in the future.

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