SunSirs: China Domestic Soybean Meal Prices are Expected to Fluctuate within a Range in Late October
October 15 2024 09:32:12 SunSirs (Selena)
On October 14th, the National Grain and Oil Information Center reported that the United States has harvested more than half of its soybeans, and the high-yield pattern has been established. With improved rainfall and accelerated planting in Brazil, it is expected that US soybean prices will remain weak in the short term, which will be negative for domestic soybean meal prices. Secondly, although domestic soybean meal inventory has decreased since September, it remained at a high level of over 1.2 million tons in early October, which will suppress domestic soybean meal prices. Overall, it is expected that the price range of domestic soybean meal will fluctuate in late October, and attention should be paid to the subsequent arrival of imported soybeans and the operation of oil plants.
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