SunSirs: Soybean meal prices continue to fall sharply after the holiday

1. Price Trend

The soybean meal commodity index on May 8 was 86.58, a decrease of 0.15 points from yesterday, a decrease of 38.10% from the highest point in the cycle of 139.88 points (2012-09-04), and an increase of 18.54 from the lowest point of 73.04 points on April 10, 2016. %. (Note: Period refers to 2011-09-01 to present)

According to SunSirs monitoring, after May 1st, negative factors have suppressed and soybean meal prices have continued to fall. As of May 8, the average price of soybean meal market was 2885 yuan / ton, which was 2.45% lower than the beginning of the month.

2. Market analysis

Products: After the Labor Day holiday, the soybean meal market did not improve and continued to fall. The main reason is that imported soybeans have arrived in Hong Kong successively. In April, the imported soybeans amounted to 6.716 million tons. Although it was lower than the same period last year, the shortage of raw materials has been resolved. Most soybean oil factories have resumed operation, the operation rate has increased, and the supply of soybean meal has increased. The market for terminal hog eggs is poor, and feed demand is still sluggish. The overall performance of external disk soybean futures was not good. The domestic soybean meal futures market was weak, and multiple bearish pressures. The spot price of soybean meal continued to decline, and prices continued to fall.

Data: As of the week of April 30, the United States had a net export of soybean meal exports of 131,400 tons this year and a net export of soybean meal exports of 39,800 tons in the next year. That week, US soybean meal exports shipped 260,200 tons.

Futures: On May 8, the main soybean meal futures contract M2009 opened at 2750 yuan, closed at 2750 yuan, down 4 yuan, the highest price was 2767 yuan, and the lowest was 2745 yuan.

3. Future Forcast

SunSirs agricultural analyst Li Bing believes: poor terminal demand, loose supply, short-term soybean meal price rise is weak, and will still be mainly weak down.

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