According to the Commodity Market Analysis System of SunSirs, starting from November 1st, there has been a long short game, and the soybean meal market has fluctuated upwards. On November 1st, the average market price of soybean meal was 3,046 RMB/ton, and on November 7th, the average market price of soybean meal was 3,072 RMB/ton, with a price increase of 0.85%.

The soybean meal market oscillates and rises in the long short game

At the beginning of November, the expectation of US soybean exports improved, and the external soybean futures market strengthened. The domestic soybean meal futures market has been boosted, and prices have risen. The terminal feed factory is cautious in procurement, and soybean meal transactions have declined. Demand remains sluggish, and the soybean meal market is fluctuating with both ups and downs. The overall oscillation is dominant, and the price continues to be around 3,000 RMB/ton.

The soybean meal analyst from SunSirs believes that in mid November, the number of imported soybeans will gradually increase, the operating rate of soybean oil plants will be high, and the terminal demand will weaken. The bearish trend is still present, and the soybean meal market will continue to decline in the future.

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