According to the National Grain and Oil Information Center, it is expected that domestic soybean meal prices will further decline in April.
One is the listing of Brazilian soybeans, which has led to a decrease in premium and discount rates, resulting in a decrease in soybean import costs.
Secondly, there will be a significant increase in imported soybeans arriving at the port after April. According to monitoring, it is expected that 8.5 million tons of soybeans will arrive at the port in April, and the average monthly arrival in May and June may reach over 11 million tons. With the concentration of imported soybeans at the port, the start-up of oil plants will significantly increase, soybean meal inventory is expected to rebound, and supply will shift from tight to loose.
Thirdly, downstream breeding enterprises are generally bearish on the future market, and their enthusiasm for picking up soybean meal has significantly decreased, with a focus on buying as needed. Pay attention to the progress of soybean imports and downstream soybean meal delivery.
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