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SunSirs: Soybean Meal Prices Fell Weakly in June
June 28 2022 14:44:46SunSirs(John)

Price trend

According to the monitoring data of SunSirs, the soybean meal market in June lacked motivation to rise, and on the whole it was dominated by oscillating declines. At the beginning of the month, the average market price of soybean meal was 4,262 RMB/ton, and at the end of the month, the average price of soybean meal was 4,082 RMB/ton, a decrease of 4.22%.

Analysis review

Under the dominance of bearishness, the soybean meal market fell in June

Beginning in June, the soybean meal market entered a period of consolidation. Under the boost of the soybean futures market in the outer disk, the soybean meal spot market oscillated up, with an increase of nearly 3%. Due to the increase in the import of soybeans to the port, the negative situation struck, and the soybean meal market fell immediately. On June 13, it fell by 0.64% in a single day.

In mid-June, the demand of terminal feed was sluggish, and the price of soybean futures in the outer market dived one after another. Multiple negative factors were superimposed. The soybean meal market fell in response to the slump, and the mainstream price fell below 4,200 RMB/ton.

At the end of June, the price of soybean futures in the outer disk did not perform well, and soybean meal fell with the market, and the market fell all the way to 4,000 RMB/ton. Soybean meal fell more than 4% overall in June.

Market outlook

The agricultural product analyst of SunSirs believes that: in July, the weather speculation theme reappears, and the soybean meal market outlook still has room for growth.

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

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