According to the Commodity Market Analysis System of SunSirs, the soybean meal market continued to decline in March, with a drop of nearly 15%. On March 1st, the average market price of soybean meal was 3,722 RMB/ton, and on March 27th, the average market price of soybean meal was 3,166 RMB/ton, a decrease of 14.94%.

At the beginning of March, the bearish trend dominated, and the soybean meal market briefly rose before continuing to decline, with a drop of over 2%. The main reason is that the demand for terminal feed is still sluggish, and the external soybean futures market is weak and declining. The soybean meal market has seen a decrease in trading volume, and the market continues to decline. As of March 10th, the average market price of soybean meal has fallen to 36,000 RMB/ton, a decrease of nearly 2% from the beginning of the month.

In the middle of the month, the quantity of imported soybeans as raw materials continued to rise, and the supply pressure doubled. The demand for terminal feed remained sluggish, and the soybean meal futures market fell, while the spot market continued to decline. As of March 20th, the average market price of soybean meal has fallen below 3,300 RMB/ton, a decrease of over 13% from the beginning of the month.

At the end of the month: The pressure on raw material supply remains, the demand for terminal feed is poor, the boosting effect of futures market is limited, and the soybean meal market continues to decline. As of March 27th, the average market price of soybean meal has fallen below 3,200 RMB/ton, a decrease of nearly 15% from the beginning of the month.

The soybean meal analyst from SunSirs believes that since April, the number of imported soybeans arriving at the port has decreased, and the pressure on soybean meal supply has eased. The market is expected to stop falling and rebound in the future.

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