SunSirs: Negative Pressure, China Soybean Meal Market Plummets

According to the commodity analysis system of SunSirs, since March, the bearish trend has dominated, and the soybean meal market has experienced a sharp decline after rising, with prices steadily falling. On March 1st, the average market price of soybean meal was 3,722 RMB/ton, and on March 7th, the average market price of soybean meal was 3,642 RMB/ton, a decrease of 2.15% in price.

At the beginning of March, the bearish trend dominated, and the soybean meal market briefly rose before continuing to decline, with a drop of over 2%. The main reason is that the demand for terminal feed is still sluggish, and the external soybean futures market is weak and declining. The soybean meal market has seen a decrease in trading volume, and the market continues to decline. As of March 7th, the average market price of soybean meal has dropped to 3,642 RMB/ton, a decrease of 80 RMB/ton from the beginning of the month.

The soybean meal analyst from SunSirs believes that in mid March, the demand for terminal feed remained weak, and the external soybean futures market showed weak gains. It is expected that the soybean meal market will continue to weaken in the future.

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