SunSirs: Negative Pressure, China Soybean Meal Market is Weak and Falling

According to the Commodity Market Analysis System of SunSirs, the domestic soybean meal market has been weakly declining since November 11th, with an overall decline of over 4%. On November 11th, the average market price of soybean meal was 3,172 RMB/ton. On November 18th, the average market price of soybean meal was 3,032 RMB/ton, a decrease of 4.41%.

Starting from November 11th, there has been a high yield of US soybeans in the external market, with loose global soybean production and supply being the main factors. The performance of foreign soybean futures market has been poor, with soybean meal falling in tandem with the market, and the domestic soybean meal spot market continuing to decline. The demand for terminal feed has weakened, the number of soybeans arriving at the port has increased, and the pressure on soybean meal supply has doubled. Multiple negative factors have suppressed the market, resulting in weak upward momentum and continuous decline. The average market price has fallen to the 3,000 RMB mark, with a decline of nearly 5%.

The soybean meal analyst from SunSirs believes that in late November, the pressure on imported soybean supply remains, and the demand for terminal feed is not good. The soybean meal market in the future will be under pressure to rise, with weak declines being the main trend.

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