Price trend

According to the monitoring data of SunSirs, starting in June, after a short period of consolidation in soybean meal, the market showed an oscillating rise. After the rise, the market ushered in a dive. At the beginning of the month, the average market price of soybean meal was 4,262 RMB/ton. On June 13, the average market price of soybean meal was 4,348 RMB/ton, up 2.02%.

Analysis review

Beginning in June, the soybean meal market entered a period of consolidation. Under the boost of the soybean futures market in the outer disk, the soybean meal spot market oscillated up, with an increase of nearly 3%. Due to the increase in the import of soybeans to the port, the negative situation struck, and the soybean meal market fell immediately. On June 13, it fell by 0.64% in a single day.

Market outlook

The agricultural product analyst of SunSirs believes that the negative factors dominant, and the supply of soybean meal was increasing, and it is expected that soybean meal will remain weak in the future.

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