According to the commodity analysis system of SunSirs, since May, the import of soybean raw materials has been dominated by negative factors, and the soybean meal market has been continuously declining. On May 1st, the average market price of soybean meal was 3,476 RMB/ton, and on May 22nd, the average market price of soybean meal was 2,998 RMB/ton, a decrease of 13.77% in price.

After the May Day holiday, the import of soybeans to ports resumed, and with the introduction of tariff declarations, the soybean futures market declined. Terminal feed manufacturers purchase cautiously, buy as needed, and purchase as needed. The domestic spot market for soybean meal fell in response, with prices continuing to decline. As of May 20th, the average spot market price of soybean meal has fallen below the 3,000 RMB mark, a decrease of nearly 15%.

As the end of the month approaches, due to the continuous bottoming out of soybean meal prices, the downward trend is gradually slowing down. Manufacturers and traders are mainly raising prices, and market transactions are average. The soybean meal market has stopped falling and stabilized, with a moderate increase. The average market price has returned to 3,000 RMB/ton.

The soybean meal analyst from SunSirs believes that as of the end of May, the quantity of imported soybeans remained high, the operating rate of soybean oil plants increased, and the terminal demand was average. The soybean meal market continued to operate weakly.

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