According to the Commodity Market Analysis System of SunSirs, the soybean meal market continued to rise in August, with an overall oscillating upward trend. On August 1st, the average market price of soybean meal was 2,998 RMB/ton, and on August 25th, the average market price of soybean meal was 3,120 RMB/ton, an increase of 4.07%.

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 of 30 RMB/ton. The market average price is still in the range of 3,000 RMB/ton.

In the middle of the month, external bullish support led to an increase in soybean meal futures, with spot prices rising in line with the market trend. The average price of soybean meal in the market rose to around 3,100 RMB/ton, an increase of nearly 1% compared to the beginning of the month.

At the end of the month, the futures market fluctuated, the demand for terminal aquaculture improved, and there was a long short game. The spot market fluctuated widely, with prices continuing to rise and fall at 3,100 RMB/ton.

The agricultural product analyst of SunSirs believes that the rigid demand for terminal feed will increase in September, the pressure on raw material supply will ease, and the soybean meal market will continue to strengthen in the future.

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