Price trend

According to the monitoring data of SunSirs, after the May Day, bad news struck, imported soybeans arrived in Hong Kong in a concentrated manner, and soybean meal continued to decline weakly. As of May 11, the average market price of soybean meal was 4,184 RMB/ton, down 5.12% at the beginning of the month.

Analysis review

According to the monitoring data of SunSirs, it can be seen that after the Spring Festival, the soybean meal market continued to rise, with a weekly increase of up to 11%. The soybean meal market began to fall in March, with a weekly drop of more than 10% at the end of the month. After the Qingming Festival, soybean meal entered a falling channel. After May 1st, soybean meal still maintained a downward trend, with a weekly decline of nearly 3%.

Since May, the terminal demand for soybean meal has been poor, and the number of imported soybeans has been concentrated in Hong Kong. According to customs statistics, China's soybean imports in April were 8.08 million tons, an increase of 27% from the previous month. The bean futures in the outer disk fell, with multiple negative factors superimposed, and the price continued to decline weakly. The price fell to around 4,100 RMB/ton, a drop of more than 5%.

Market outlook

The agricultural product analyst of SunSirs believes that: at present, the negative factors are dominant, and the soybean meal market outlook will still weaken.

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