Price trend

According to the monitoring data of SunSirs, since the end of August, under the support of bullish, the soybean meal market has recovered, oscillated upward, and has risen until September. As of September 5, the average market price of soybean meal was 4,618 RMB/ton, up 2.85% from August 26.

Analysis review

Since the end of August, the stocking market of the terminal feed industry has driven, coupled with the low soybean meal inventory, the number of imported soybeans to the port has declined, supported by multiple bullish factors, and the soybean meal market has recovered. Beginning in September, soybean meal prices expanded, rising 2.58% in a single day on the 5th. Soybean futures in the outer disk strengthened, and the spot market of domestic soybean meal futures rose sharply. The mainstream quotation exceeded 4,600 RMB/ton, with a weekly increase of nearly 3%.

Market outlook

The agricultural product analyst of SunSirs believes that the demand for terminal feed is increasing. Under the bullish support, the soybean meal market outlook can be expected to rise.If you have any questions, please feel free to contact SunSirs with support@sunsirs.com