The latest price of soybean oil (May 17): 7624 RMB / ton, the market outlook is bearish

Analysis points: The price on May 17 fell by 2.51% compared with the previous trading day. After May Day, due to the increase in the number of imported soybeans arriving in Hong Kong, the operating rate of soybean oil plants has increased, the supply of soybean oil has been loose, and the price has continued to decline. The average market price has dropped to 7,600 RMB/ton.

Forecast of the market outlook: The terminal demand is not good, and the spot market of soybean oil will continue to decline in the market outlook.

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