According to the Commodity Market Analysis System of SunSirs, since mid August, the bullish trend has continued, and the soybean meal market has fluctuated and risen. On August 15th, the average market price of soybean meal was 3,092 RMB/ton, and on August 21st, the average market price of soybean meal was 3,118 RMB/ton, with a price increase of 0.84%.

Since August, due to good export data of US soybeans, the overseas market for soybean meal has strengthened, which has boosted the domestic soybean meal futures market. The futures market has rebounded, and the spot market for soybean meal has steadily risen. Due to the sluggish demand for terminal aquaculture and weak trading in the soybean meal market, the upward trend of the market is limited, and the overall price is mainly slightly rising, with an adjustment range of 30 RMB/ton. As of mid month, the average price of soybean meal market is still in the line of 3,000 RMB/ton.

After mid month, the bullish support from external markets led to an increase in the soybean meal futures market, with spot prices rising in tandem. The average price of soybean meal in the market rose to around 3,100 RMB/ton, an increase of nearly 1% from the beginning of the month.

The soybean meal analyst from SunSirs believes that at the end of August, the amount of imported soybeans as raw materials increased, the operating rate of soybean oil plants increased, and the terminal demand improved. There is still room for upward momentum in the soybean meal market in the future.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.