SunSirs: Soybean Meal Remained High (October 14-18)
October 22 2019 14:59:55 SunSirs (Eva)On October 18, the soybean meal commodity index was 95.33, up 0.4 points from yesterday, down 31.85% from 139.88 (2012-09-04), the highest point in the cycle, and up 30.52% from 73.04, the lowest point on April 10, 2016. (Note: cycle refers to 2011-09-01 to now)
According to the monitoring of the SunSirs, the price of soybean meal rose and fell this week, and the overall price rose. At the beginning of the week, the average price of soybean meal was RMB 3160 yuan / ton. At the end of the week, the average price of soybean meal was RMB 3176 yuan / ton, up 0.53%.
Since October, soybean meal prices have continued to soar, and this week's narrow fluctuation has stabilized. As of October 18, the average price of 43% soybean meal was RMB 3176 yuan / ton, up more than 4%. This week's soybean meal market is still running at a high level. The external market weather is worried, the output of soybeans is down, the growth rate is down, the positive support, the soybean meal price is rising, the weekly growth of main contracts is close to 0.6%, the spot price is rising, and the mainstream price exceeds RMB 3100 yuan / ton. In addition, some soybean oil plants are still in shutdown for maintenance, with low startup rate, tight supply of soybean meal, and continuous price action.
Analyst of agricultural products in SunSirs believes that: weather worries, soybean production reduction, News level is still positive, soybean meal market price is expected to be strong.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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