According to the commodity analysis system of SunSirs, starting from the end of May, the supply of imported soybeans as raw materials increased, and the sowing of American soybeans in the external market ended. Negative news hit, and the soybean meal market showed weak upward momentum, ushering in a weak market. On May 26th, the average market price of soybean meal was 2,982 RMB/ton, and on June 5th, the average market price of soybean meal was 2,900 RMB/ton, a decrease of 2.75% in price.

Starting from the end of May, the import of soybeans as raw materials to ports increased, and the sowing of US soybeans in the external market ended. Negative factors continued to emerge, and the demand for terminal feed improved. The combination of long and short positions resulted in a weak rebound in the soybean meal market, with weak declines being the main trend. As of June 5th, the average market price of soybean meal was 2,900 RMB/ton, a decrease of 100 RMB/ton from the end of May, with an overall decline of nearly 3%.

The soybean meal analyst of SunSirs believes that in late June, the supply of imported soybeans will remain loose, the operating rate of soybean oil plants will increase, and the terminal demand will be poor, so the soybean meal market will continue to weaken.

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