On October 31st, the National Grain and Oil Information Center reported that since September, domestic soybean meal inventories have continued to decline, dropping from a high of 1.5 million tons in early September to the current level of around 1 million tons. Considering that soybean imports to ports will decrease after November compared to the third quarter, it is expected that domestic soybean meal inventories will continue to fall in the future. After the December shipping schedule, soybean procurement remains relatively low, and the market is concerned that the supply of imported soybeans in China may tighten in the coming months, which is favorable for domestic soybean meal prices. It is expected that domestic soybean meal prices may rebound in November.

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