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SunSirs: After the Spring Festival, China's Soybean Meal Futures Rose Sharply
February 08 2022 08:55:29SunSirs(Linda)

Because the price of soybean oil and oil rose sharply during the Spring Festival, after the Spring Festival, soybean meal oil futures prices rose sharply at the opening, the futures market boosted, and the domestic soybean meal oil spot market rose one after another. Up 269 yuan / ton. The average spot market price of soybean meal was 4008 yuan/ton, up 11.4% in a single day; even soybean oil closed at 10042 yuan/ton, up 350 yuan/ton, and there was no quotation in the spot market; even palm oil was 10162 yuan/ton, up 304 yuan/ton, There is no quotation in the spot market.

During the Spring Festival, Malaysian palm oil remained strong, rising by more than 2%. CBOT soybean futures all rose. Soybean meal rose the most, exceeding 9%. Some oil traders have not yet started quoting, and it is expected that the market outlook will also usher in a surge. Since the current soybean meal oil has risen too much, it will usher in a rational callback after the big rise.

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