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SunSirs: Under the Support of Bullish, Soybean Meal Market Rebounded
May 18 2022 13:56:08SunSirs(John)

Price trend

According to the monitoring data of SunSirs, starting from May 11, soybean meal has ushered in a rising market again, and the price has oscillated up. On May 11, the average market price of soybean meal was 4,184 RMB/ton. On the 17th, the average market price of soybean meal was 4,320 RMB/ton, up 3.25%.

Analysis review

According to the monitoring data of the business agency, it can be seen that the soybean meal market has risen since mid-February, and has risen until the end of March, with a largest weekly increase of 11.15%. After the end of March, the soybean meal market was weak and down, with the largest drop of 10.3%. In April, the soybean meal market fluctuated within a narrow range, and in May, soybean meal was still mixed. In mid-May, the soybean meal market was supported by bullish news and returned to the rising market.

After the May 1st holiday, the soybean meal market continued to decline weakly, falling to the 10th, and the market fell more than 5%. The USDA report came out, bullish beans and soybean meal prices bottomed out, and the market returned to a rising trend. From the 11th to the 17th, the soybean meal market rose more than 3%. The terminal feed demand was general, which inhibited the rising market of soybean meal to a certain extent. Driven by the futures market, soybean meal ushered in this round of rising prices.

Market outlook

The agricultural product analyst of SunSirs believes that the terminal demand will still restrict the rising space of the soybean meal market, and it is expected that the soybean meal market will be adjusted in succession in the future.

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