According to the commodity analysis system of SunSirs, after the Spring Festival, the soybean meal market continued to rise with a bullish support, with an increase of over 20%. On February 1st, the average market price of soybean meal was 3,222 RMB/ton, and on February 10th, the average market price of soybean meal was 3,872 RMB/ton, with a price increase of 20.17%.
Starting from February, due to the impact of customs clearance policies, the amount of imported soybeans arriving at the port has decreased, the operating rate of soybean oil plants has been low, and the supply of soybean meal has become tight. After the holiday, feed mills gradually started stocking up, and due to the sharp rise in soybean meal prices, the prices of end product feed also increased one after another. The domestic soybean meal market is in short supply, and the soybean meal market is supported and continuously rising. On February 10th, the average price of soybean meal in the market reached 3,870 RMB/ton, with a daily increase of over 300 RMB/ton. Compared with before the holiday, the price of soybean meal has risen by over 600 RMB/ton.
The soybean meal analyst from SunSirs believes that it will take time for the customs clearance volume of imported soybeans to significantly rebound. With tight supply of raw materials and a decline in soybean meal supply, the market situation will remain high in the future.
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