SunSirs: Supported by U.S. Soybeans, China's Soybean Meal is Rising again, with a Single-Day Increase of 2.25%

Beginning in May, the soybean meal market fluctuated frequently, with ups and downs, ups and downs, and the overall increase was dominated. The increase in May was 1.42%. In June, the US soybeans supported the price of soybean meal and the price of soybean meal began to rise again. As of June 7, the average market price of soybean meal was 3642 yuan/ton, a single-day increase of 2.25%.

Soybean meal performed strongly in the first quarter of 2020, with both February and March rising, and in March it rose by more than 15.12%. The entire second quarter fell and fell.

The trend in 2021 is opposite to that in 2020. Soybean meal prices rose sharply for two weeks in January, with a maximum increase of 10%. After the sharp rise, the price of soybean meal ushered in a decline, falling for two consecutive weeks. Since February, soybean meal has continued its downward trend. During the Spring Festival, under the influence of U.S. soybeans, soybean meal ushered in a supplementary increase after the holiday, and the price rose slightly for two weeks. Soybean meal started a continuous decline in March, with a monthly decline of more than 10%.

Entering April, soybean meal bottomed out and rebounded, which was suppressed by negative factors. After the big rise, the diving market ushered in the overall rise of 1.29%. Soybean meal fluctuated frequently in May, with big ups and downs. The overall oscillating increase was dominated by the overall increase of 1.42%. After entering June's soybean meal downturn, it ushered in the rise again.

US soybean support, soybean meal market returns to rising channel

In May, the long and short factors were superimposed, and the soybean meal market went up and down. After several ups and downs, the overall fluctuation rose. At the beginning of June, soybean meal began to show weakness. A week later, in the US soybean dry weather is expected to increase, soybean futures prices in foreign markets continue to rise, domestic soybean meal futures rose with the market, soybean oil plants due to weak terminal demand, one after another stop for maintenance, support by bullish factors, soybean meal Spot prices rose against the trend and returned to the rising market. On June 7, the main single-day cargo contract rose by more than 2%, and the spot price rose by more than 2%.

The price of terminal pigs continues to be low and the demand is not good. This round of soybean meal price increase is mainly driven by external disks. The market outlook for soybean meal is expected to be insufficient.

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