According to the monitoring data of SunSirs, October 10 was the first futures trading day after the National Day. Soybean meal and soybean oil futures rose in an all-round way at the opening, while the spot market rose with the market. The average market price of soybean meal was 5,352 yuan/ton, up 3% per day; The average market price of soybean oil is 10,620 yuan/ton, up 4.22% on a single day; The average price of palm oil market was 7,950 yuan/ton, up 5.63% on a single day.

During the National Day holiday, the fundamentals of soybean oil in the foreign market were positive. Boosted by the soaring crude oil market, Malaysian palm oil, American soybean oil and American soybean oil rose sharply. After the National Day, futures have not been opened for two days in the weekend, and soybean meal oil is full of momentum.

On October 10, soybean meal oil rose at the opening of futures trading day, while soybean oil and palm oil rose significantly. The opening quotation of bean meal was 4,196 yuan/ton, and the latest quotation was 4,158 yuan/ton, up 54 yuan/ton; The opening quotation of soybean oil was 9,350 yuan/ton, and the latest quotation was 9,274 yuan/ton, up 410 yuan/ton; The opening price of palm oil was 7,748 yuan/ton, and the latest quotation was 7,590 yuan/ton, up 468 yuan/ton.

Driven by the sharp rise of futures market, spot soybean meal oil prices rose sharply one after another. The mainstream quotation of soybean meal market was about 5,350 yuan/ton, up 100 yuan/ton; The mainstream quotation of soybean oil market is about 10,600 yuan/ton, up 400 yuan/ton; The mainstream price of palm oil market is about 7,900 yuan/ton, up 300 yuan/ton.

Li Bing, SunSirs agricultural product analyst believes that the sharp rise in the soybean meal oil market in this round is mainly due to the good support of the external market during the holiday period. The positive factors will be realized, and a wave of market pullback may come in the future. As the oil is in the peak consumption season, the logistics and transportation costs of soybean meal will increase. It is expected that China soybean meal oil market in the future will still run at a high level due to the limited downward space.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.