According to the Commodity Market Analysis System of SunSirs, since September, negative factors have suppressed the soybean meal market, and the soybean meal market has continued to decline. On September 1st, the average market price of soybean meal was 3,106 RMB/ton, and on September 18th, the average market price of soybean meal was 3,012 RMB/ton, a decrease of 3.03% in price.

Entering September, foreign market soybean stocks have been listed one after another, with production basically fixed. There are still variables in Sino US trade, and foreign market soybean futures have shown weak performance. With the increase in imported soybean arrivals, the supply pressure has doubled, and the domestic soybean meal futures market has declined, while the spot market has followed suit. The terminal procurement of soybean meal is cautious and can be purchased as needed, with average market transactions. As of September 18th, the soybean meal market has fallen to around 3,000 RMB/ton, with a price drop of about 100 RMB/ton.

The soybean meal analyst from SunSirs believes that in late September, the quantity of imported soybeans continued to increase, the operating rate of soybean oil plants increased, and terminal demand supported the weak upward trend of soybean meal market in the future.

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