SunSirs: Inventory Pressure Remains, Soybean Meal's Gains are Blocked

Beginning on June 18, soybean meal ended the diving market and opened the way to rising. The USDA report was bullish at the end of the month. With the blessing of US soybeans, the price of soybean meal bottomed out, rising steadily, rising for nearly a week, or more than 7%. Beginning on July 3, soybean meal once again ushered in a callback and entered a period of weak oscillation. As of July 14, soybean meal fell by 1.92% as a whole.

Starting from late April, soybean meal is still dominated by a weak overall operation, with a large weekly decline. Soybean meal performed the worst in June, with the largest weekly decline of 6.57% in the middle of the month. Near the end of the month, soybean meal ushered in a rising market, with a weekly increase of 5.66%. The performance of soybean meal in early July was still poor. Soybean meal fell by 1.53% in the week of July 5th. As of July 14, the overall performance of soybean meal was mediocre, down 0.49% from the beginning of July.

Inventory pressure doubles, soybean meal's gains are blocked

Beginning on June 18, soybean meal ended the high platform diving market, showing a steady upward trend. Starting from the end of June, terminal live pig prices have stabilized and ushered in a rebound. The USDA report was released on July 1, and the estimate of US soybean stocks was lowered, which was at the lowest level in 6 years, which was lower than expected. The U.S. Soybean report data is bullish, even soybean meal soared for two days. On July 1, even soybean meal increased by 4.84%, and on the 2nd, soybean meal increased by 2.98%. The futures market rose sharply, and the soybean meal spot price rose with the market. The two-day increase was 4.52%, and the soybean meal was flying again.

Starting from July 5th, because soybean meal stocks continued to be at the top 1.14 million tons, terminal feed demand was general, external profit factors were realized, and the driving force was insufficient. Soybean meal prices continued to pull back for two days. As of July 7, the decline was as high as 2.35%. Soybean meal was still mixed this week. As of July 14, the average market price of soybean meal was 3572 yuan/ton, up 0.15% from the beginning of the week.

Because soybean meal stocks continue to be high, terminal feed demand is sluggish, the US soybean weather speculation on the outside market, and the long-short game, soybean meal will continue to fluctuate widely in the future.

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