According to the monitoring of the Commodity Market Analysis System of SunSirs, the average market price of rapeseed meal on November 1st was 3,305 RMB/ton, and on November 9th, the average market price of rapeseed meal was 3,335 RMB/ton, with an increase of 0.91% during the period.

Starting from November, the spot price of rapeseed meal slightly increased, and the market for rapeseed meal continued to be weak in the early stage. The market predicts that the number of imported rapeseed to Hong Kong in October will decrease, the operating rate of oil factories will be low, and the supply of rapeseed meal will decrease. There is a downward trend in rapeseed meal inventory in South China, which is beneficial for the market of rapeseed meal and slightly increases. As the temperature drops, aquaculture enters the off-season of demand, and the demand for rapeseed meal used for aquaculture feed production weakens. The procurement pace slows down, with more emphasis on just in demand procurement, limiting the potential for rapeseed meal growth.

In terms of soybean meal: According to the monitoring of the commodity market analysis system of SunSirs, the average market price of soybean meal on November 1st was 4,230 RMB/ton, and on November 9th, the average market price of soybean meal was 4,301 RMB/ton, with an increase of 1.89% during the period.

It is expected that the number of rapeseed seeds arriving in Hong Kong in October will decrease compared to previous expectations, but a large number of imported rapeseed seeds are expected to arrive in Hong Kong from November to December. In the later period, the supply of rapeseed meal will increase. Against the background of low demand season, the rebound momentum of rapeseed meal is insufficient, and it is expected to operate weakly.

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