According to SunSirs monitoring, after the New Year's Day, the price of soybean meal continued to soar. After the surge, a high-pitched dive was staged, and the price continued to fall until the Spring Festival. After the Spring Festival, soybean meal ushered in a rise on the first day, and continued to fall on the 19th. As of February 19, the soybean meal market price was 3815 yuan/ton, and the price was up 9.23% from the beginning of January; and 0.57% from the beginning of February.

According to the weekly fluctuations from December 2020 to February 14, 2021, it can be seen that starting from mid-December, the price of soybean meal has shown an upward trend every week until mid-January. The biggest increase occurred in the second week of January, with an increase of more than 10%.

Soybean meal began to dive after two consecutive weeks of rising in January, and fell for two consecutive weeks. Because the increase was far greater than the decrease, the overall increase in January remained unchanged. Beginning in February, soybean meal still maintained a slight downward trend. During the Spring Festival, due to the influence of the US soybean meal, after the holiday, soybean meal showed an upward trend on the 18th, and the next day the 19th ushered in a downward trend.

The demand for terminal feed declines and the price of soybean meal remains weak after the holiday

Starting from mid-January, the bullish factors were digested by the market, and soybean meal fell all the way until February. On the eve of the Spring Festival, soybean oil plants started to shut down plans one after another, supply was tight, and soybean meal spot was relatively strong. During the Spring Festival, the US soybeans in the foreign market performed strongly supported by bullish factors. Soybean meal ushered in an increase on the first day after the holiday. Due to the fall in corn prices, the end of stocking at the terminal feed mills, and weak demand, soybean oil plants resumed operations one after another. The price mentality was normal. Soybean meal continued to climb after the rise.

Status of soybean meal installations in some domestic soybean oil plants on February 19

Jiu San Group: Dalian Jiu San dual-line startup; Tieling Jiu San single-line startup; Changchun Jiu San single-line startup; Dandong Jiu San is shutting down; start-up time to be determined.

Yingkou area: Yingkou Kerry is shutting down; Yingkou Longjiangfu is shutting down, and it is scheduled to start on February 21.

Panjin area: Panjin Huifu is shutting down and plans to start on February 22; Panjinzhong Grain Storage will start.

SunSirs agricultural products analysts believe that after the Spring Festival, big pigs will be intensively sold, and terminal feed demand will be weakened. Soybean meal will continue to rise in the short term.

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