According to the Commodity Market Analysis System of SunSirs, the soybean meal market in July fluctuated and rose overall. On July 1st, the average market price of soybean meal was 2,930 RMB/ton, and on July 29th, the average market price of soybean meal was 2,938 RMB/ton, an increase of 0.27%.

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.

Since mid month, due to a decrease in the planting area of American soybeans in foreign markets and a decline in production estimates, there has been some support for the domestic soybean meal futures market. The futures market has risen, and the soybean meal spot market has experienced a wave of upward trend. Due to weak demand for terminal aquaculture and poor transaction volume in the soybean meal market, the market has gradually declined after rising, with prices mainly fluctuating and rising. The adjustment range is 50 RMB/ton, and the market average price is still around 2,900 RMB/ton.

At the end of the month, terminal demand was weak, the number of imported soybeans arriving at the port increased, soybean meal inventory increased, and the bearish trend was dominant. The soybean meal market was weak and downward, with a decline of more than 2% compared to the 23rd.

The agricultural product analyst of SunSirs believes that the demand for terminal feed will be weak in August, and the pressure on raw material supply will still exist. The market for soybean meal will continue to weaken in the future.

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