According to the monitoring data of SunSirs, in August, the external market of soybeans was favorable, the import of soybeans dropped, the terminal demand recovered, and the soybean meal market rose supported by multiple favorable factors. On August 1, the average market price of soybean meal was 4,248 RMB/ ton. On August 23, the average market price of soybean meal was 4,534 RMB/ ton, with an increase of 6.73%.

Since August, the soybean meal market has bottomed out and rebounded, and the rising road has been restarted. The main positive factors still come from the United States beans. The export inspection volume of the United States beans has increased, the growth rate has decreased, and the multiple positive supports have led to the rise of the soybean meal futures market, and the spot price has risen. The price is at the line of 4,200 RMB/ ton, with an overall increase of more than 2%. The terminal demand is relatively sluggish, which limits the rising space of soybean meal to a certain extent, and the soybean meal market rises as a whole.

Since August 22, soybean meal has risen sharply, with an increase of more than 4% in the two days. This is mainly due to the decline in the number of imported soybeans arriving in Hong Kong, the shutdown of some soybean oil plants for maintenance, and the increase in the demand for feed procurement supported by the rigid demand of the terminal. The soybean meal inventory continues to decline, reaching the first line of 730,000 tons, with a decrease of more than 8% on a week-on-year basis and more than 24% on a year-on-year basis. The supply situation is tight, and the spot market of soybean meal is expanding.

SunSirs agricultural product analyst believes that the subject matter of speculation about the outside market weather is still in the market. Coupled with the tight supply, the soybean meal market in China will continue to strengthen in the short term.

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