According to the Commodity Market Analysis System of SunSirs, in early September, bearish sentiment suppressed the weak downward trend of soybean meal market. On September 1st, the average market price of soybean meal was 3,106 RMB/ton, and on September 8th, the average market price of soybean meal was 3,076 RMB/ton, a decrease of 0.97% in price.

At the beginning of September, due to the weak export of US soybeans, the overseas market for soybean meal weakened, suppressing the domestic soybean meal futures market. The futures market operated weakly, and the spot market for soybean meal declined. Due to weak demand for terminal aquaculture, the soybean meal market has experienced a decline in transactions and the market continues to decline, with a drop of nearly 100 RMB/ton. As of September 8th, the average price of soybean meal in the market remains at around 3,000 RMB/ton.

The soybean meal analyst from SunSirs believes that in mid September, the quantity of imported soybeans will continue to increase, and the supply of soybean meal will be loose, resulting in poor terminal demand. The soybean meal market will continue to operate weakly in the future.

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