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SunSirs: Soybean Meal Prices Rose During National Day
October 08 2019 11:31:32SunSirs(Eva)

According to the monitoring of SunSirs: during the National Day, the price of soybean meal was rising. On October 7, 43% of soybean meal was RMB 3106 yuan per ton, which was 1.97% higher than that at the end of September.

Analysis: US Department of Agriculture issued the USDA quarterly grain inventory report before the festival. The report was overwhelming. The main contract of American soybean rose from 880 to 920 in a week, an increase of more than 4%. Outside market futures drive, the domestic soybean oil factory parking overhaul, the price is heavier, the price is increased, the price is increased by RMB 3050 yuan / ton, 43% yuan soybean meal is quoted at RMB 3050 yuan / ton, 43% yuan soybean meal is quoted at RMB 3100 yuan / ton, 93 yuan 43% soybean meal price is RMB 3060 yuan / ton, the plan is proposed, the grain price is 43% yuan, the soybean meal price is RMB 3070 yuan / ton, and the start-up is raised. Changchun 93 43% soybean meal quotes RMB 3200 yuan / ton, the price rises RMB 50-70 yuan / ton before the holiday.

Data: The US Department of Agriculture (USDA) released a report on soybean meal export sales, showing that as of the week of September 26, the net export sales of soybean meal in the United States were 21500 tons in 2018-19 and 1368 800 tons in 2019-20. That week, the United States shipped 180,200 tons of soybean meal for export in 2018-19.

Agricultural products analysts of SunSirs believe that during the National Day period, soybean oil plant parking maintenance is the main, soybean meal inventory is tight, the external market is good, soybean meal prices will remain strong in the short term, later, soybeans listed, the supply of imported soybeans increased, soybean meal prices increased pressure, or weak oscillation will dominate.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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