According to the monitoring data of SunSirs, the soybean meal market rose and fell in October, and the overall oscillation was strong. At the beginning of the month, the average market price of soybean meal was 5,128 RMB/ ton. On October 26, the average market price of soybean meal was 5,386 RMB/ ton, with a 5.03% increase.

During the National Day holiday, the fundamentals of beans in the foreign market were good, and the market of American beans rose sharply. After the festival, goods have not been opened for two days in the weekend, and soybean meal is full of momentum to rise. On October 10, the futures trading day opened with soybean meal rising. The opening quotation of soybean meal was 4196 RMB/ ton, and the latest quotation was 4,158 RMB/ ton, up 54 RMB/ ton. Benefiting from the bullish support, soybean meal ushered in a wave of rising market.

In the middle of the year, the positive factors of the external market were digested by the market, the soybean meal futures market declined, the spot market fell with the market, and the high price inhibited the transaction. The terminal feed demand turned weak, and the soybean meal market gradually retreated. The mainstream quotation fell to 5,312 RMB/ ton, a decline of more than 1.8%.

At the end of the month, the rising trend of the bean market in the external market restarted. With the support of the rigid demand for terminal feed, the spot market of soybean meal rose again, and the mainstream quotation returned to the front line of 5,300 RMB/ ton, with a daily rise of 1.66% on October 26.

SunSirs agricultural product analyst believes that: in November, imported soybeans arrived in Hong Kong one after another, domestic soybean oil plants resumed operation, the tight supply situation of soybean meal market eased, and China soybean meal market may be weak in the future.

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