News from the National Grain and Oil Information Center: Firstly, the high-yield pattern of soybeans in the United States has been established, and Brazil's rainfall has improved and planting has accelerated. It is expected that the price of soybeans in the United States will remain weak in the short term, which will be negative for domestic soybean meal prices.

Secondly, despite the recent continuous decline in domestic soybean meal inventory, it is still at a high level of nearly 1 million tons. In addition, the crushing profit can still support oil plants to maintain high operating rates, and downstream feed consumption growth is weak. It is expected that domestic soybean meal inventory will remain high in the near future.

Thirdly, the profits from pig, egg chicken, and broiler farming have all declined, and the growth rate of feed demand is limited in the short term. Overall, it is expected that the domestic soybean meal futures price will experience narrow fluctuations in the near future, and the spot basis may rebound.

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