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SunSirs: The Negative Factors are Fulfilled, and China's Soybean Meal and Oil Usher in a Rebound

June 22 2021 08:11:17     SunSirs (Linda)

Since June, due to negative factors, soybean meal, soybean oil, palm oil has continued to enter a downward channel, and the market has been declining, falling deeply for more than two weeks. As of June 20, soybean meal spot fell 5.98%; soybean oil spot fell 9.65%; palm oil The spot fell by 10.86%. On June 21, soybean meal, soybean oil, palm oil stopped falling and rebounded. Soybean meal rose by 1.04% in a single day; soybean oil rose by 1.99% in a single day; palm oil rose by 2.24% in a single day.

Negative factors suppressed soybean meal, soybean oil, palm oil continued to fall sharply

In early June, under the support of bullish external factors, soybean oil palm oil also showed an upward trend. During the Dragon Boat Festival, the demand for biodiesel is expected to decline, and the market for external oils and fats has fallen sharply. After the festival, the market for soybean oil and palm oil futures has plummeted, and the spot market has fallen. Soy oil palm oil fell unstoppable, and prices continued to fall deeply. Soybean oil fell by more than 13%, and palm oil fell by more than 14%. Under the influence of the sharp drop in soybean oil and palm oil, the soybean meal futures market performed poorly. In addition, the terminal hogs have been falling and fell below the 6 yuan mark. The rise of soybean meal was weak, mainly following the decline, and soybean meal fell by more than 7%.

Negative factors materialized on the 21st, soybean meal, soybean oil, palm oil bottomed out and rebounded

In June, soybean oil palm oil fell deeply for more than half a month, and the negative factors were gradually digested by the market. In addition, the stock of soybean oil palm oil was not high, the US soybean planting period in foreign markets, the subject of weather speculation continued, and the market's bullish expectations increased, on the 21st, Soybean meal soybean oil palm oil futures spot collectively ushered in a rebound. Soybean meal rose close to 100 yuan/ton in a single day, soybean oil rose close to 150 yuan/ton in a single day, and palm oil rose close to 200 yuan/ton in a single day.

Soybean meal, soybean oil, palm oil is currently in the long-short game stage, with wide fluctuations dominated. After a deep decline, it will usher in a rise. Don't be overly bearish. There is still room for growth in the market outlook.

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

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