According to the Commodity Market Analysis System of SunSirs, since July, the soybean meal market has mainly fluctuated weakly, with prices experiencing a slight decline. On July 1st, the average market price of soybean meal was 2,930 RMB/ton. On July 14th, the average market price of soybean meal was 2,912 RMB/ton, a decrease of 0.61%.

Starting from July, the global soybean supply remained loose in the external market, the soybean futures market was weak, and the domestic soybean meal futures market performed poorly. Affected by high temperature weather, the demand for soybean meal in the terminal breeding industry is weak, market transactions are flat, inventory is high, and the soybean meal spot market is mainly weakly oscillating. Due to the low price of soybean meal, the downward space is limited and the upward momentum is weak, with an overall price of around 2,900 RMB/ton.

The agricultural product analyst of SunSirs believes that the combination of negative factors and sustained high inventory will continue to weaken the soybean meal market in the future.

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