SunSirs--China Commodity Data Group

Sign In

Join Now

Contact Us

Home > Soybean meal News > News Detail
Soybean meal News
SunSirs: Agriculture: With Sluggish Demand, The Price of Soybean Meal Declines
December 06 2019 08:40:35SunSirs(Daisy)

1. Price Trend

The soybean meal commodity index on December 5 was 90.33, a decrease of 0.6 points from yesterday, and a 35.42% decrease from the highest point on September 4, 2012 of the cycle (Note: Period refers to September 1, 2011 to present)

According to data from SunSirs, Since November, the price of soybean meal has fluctuated and declined, and it has not improved since December. The decline has continued to expand, and the price has a tendency to fall below 3,000 RMB. At the beginning of November, the average price of soybean meal market was 3,160 RMB/ton. On December 5, the average price of soybean meal market was 3,010 RMB/ton, and the price fell by 4.75%.

2. Market Analysis

In November, the USDA report was negative, and newly American beans in external disk were listed on the outer disk. Supply pressure doubled, futures prices fell, and even soymeal was dragged down. Soymeal spot prices fell following the trend. Although soybean oil plants are mainly increasing price with limited start-ups, prices are still weak due to sluggish demand. In December, the market for soybean meal has not improved. And the prices of terminal pigs have continued to decline, and some farmers have concentrated on sourcing the market now. Associated with aquaculture entering the off-season, feed demand is generally sluggish. And the spot price of soybean meal has continued to weaken, with mainstream prices falling below the 3,000 RMB mark.

Device dynamics: Tianjin Dafu start-up; Tianjin Bangji start-up; Beijing Huifu dual-line start-up; Tianjin Nine-three-first line run at 45%, second-line at 43%; Tangshan Central grain storage machine shutdown, expected to start on the 16th; Qinhuangdao Jinhai dual-line start-up; Boxing Start-up; Jingliang’s equipment shut down and the start-up time has not been determined.

Data: The soybean meal export sales report released by the United States Department of Agriculture (USDA) shows that Up to the week of November 21, the United States ’net sales of soybean meal this year were 93,200 tons, and the next year’s net sales of soybean meal were 0 tons. That week, the United States shipped 213,700 tons of soybean meal this year.

3. Market Forecasting

Li Bing, an agricultural product analyst at SunSirs, believes that terminal aquaculture is in the off-season. And it is difficult to significantly increase pig farming ended up with sluggish demand.  The external market is dominated by negative factors. Soybean meal has limited upside in the short term, and it continues to be weak.

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

Exchange Rate:

8 Industries
Energy
Chemical
Rubber & Plastics
Textile
Non-ferrous Metals
Steel
Building Materials
Agricultural & Sideline Products