SunSirs: Positive Support, China Soybean Meal Market Heats Up in January 2025

According to the Commodity Market Analysis System of SunSirs, the soybean meal market fluctuated and rose in January, with an increase of over 12%. On January 1st, the average market price of soybean meal was 2,866 RMB/ton, and on January 23rd, the average market price of soybean meal was 3,222 RMB/ton, an increase of 12.42%.

Positive support for the continuous rise of soybean meal market in January

After New Year's Day, the demand for terminal feed was weak, the supply was loose, and the performance of soybean futures in foreign markets was average. The domestic soybean meal market was mainly weak and volatile, and the market continued to narrow and consolidate.

In the middle of the month, South American soybeans were in their growth period in the external market, and Argentina's rainfall decreased. The price of beans in the external market rose, while the domestic soybean meal futures market rebounded. The spot price of soybean meal rose one after another, and the market average price rose to 3,000 RMB/ton, with a price increase of nearly 7%.

At the end of the month, as the Chinese New Year approached, domestic soybean oil factories gradually shut down for maintenance, resulting in tight supply. The stocking market before the Spring Festival continued to rise, and the soybean meal market continued to rise, with prices rising to 3,200 RMB/ton, an increase of over 5%.

According to the agricultural product analyst of SunSirs; After the holiday, soybean oil factories gradually resumed shutdowns, and the demand for terminal feed was weak, putting pressure on the upward trend of soybean meal market in the future.

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