As of the week ending October 17th, soybean meal inventories in major oil factories across the country have decreased. Domestic soybean meal inventory is about 970,000 tons, a decrease of about 100,000 tons from last week, a decrease of over 9%, and a year-on-year increase of over 4%.

Inventory has decreased by over 9% to 970,000 tons, indicating a short-term tightening of supply and relatively stable demand, which is favorable for spot prices and may boost market purchasing enthusiasm. Combined with the closing price of the main soybean meal futures contract 2601 at 2,895 RMB/ton on October 20th, up 12 RMB/ton, with active trading volume, reflecting the market's positive expectations for inventory reduction news, supporting the upward trend of futures prices.

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