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SunSirs: Negative Factors Dominated, and Soybean Meal Prices Fell
May 26 2022 14:01:45SunSirs(John)

Price trend

According to the monitoring data of SunSirs, since mid-May, the market has been dominated by the negative, and the soybean meal has continued to decline. As of May 25, the average market price of soybean meal was 4,230 RMB/ton, down 2.67% from May 16.

Analysis review

Since mid-May, the number of imported soybeans has been concentrated at the port. According to customs statistics, China imported 8.08 million tons of soybeans in April, an increase of 27% from the previous month.

Soybean futures in the outer disk fell, with multiple negative factors superimposed, prices continued to decline weakly. The terminal feed demand was sluggish, and the soybean meal market oscillated down, down more than 2%.

Market outlook

The agricultural product analyst of SunSirs believes that the terminal performance is not good, and the soybean meal market will still weaken in the future.

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