SunSirs: Soybean Meal Prices Mixed in July

Price trend

According to the monitoring data of SunSirs, since July, the soybean meal market has fluctuated in a mixed manner, mainly with wide fluctuations. On July 1, the average market price of soybean meal was 4,118 RMB/ton. On July 26, the average market price of soybean meal was 4,156 RMB/ton, up 0.92%.

Analysis review

At the beginning of July, due to the sluggish terminal demand and the high soybean meal inventory, which was dominated by the negative, the price of soybean meal fell, and the price fell endlessly, with a drop of more than 2.5%. On the 7th, driven by the soybean market in the outer disk, the spot of domestic soybean meal futures rose along with the market, and it rose to the 11th, an increase of more than 2.4%.

Beginning on the 12th, under the negative pressure, the soybean meal market fell again. In the middle of the year, the volume of imported soybeans to the port decreased, the crushing volume of soybean oil plants decreased, the supply of soybean meal was tight, coupled with the rise in the terminal pork market and the strong demand for feed, the soybean meal market oscillated up, an increase of more than 2%, and the price continued to be 4,100 RMB/ton. The market kept heating up.

In the second half of the year, the soybean meal market fell again after the rise, mainly because the external disk rose, the demand was poor, and the soybean meal market was unstable. Near the end of the month, the soybean market in the outer disk showed a strong performance, and the soybean meal market rose again. Soymeal rose less than 1% throughout July.

Market outlook

The agricultural product analyst of SunSirs believes that the US soybean is in the growing period, and the bullish factors in the external market are still there. It is expected that the soybean meal market in the future is expected to usher in a rising market.

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