According to the Commodity Market Analysis System of SunSirs, starting from November 1st, there was a combination of long and short positions, and the soybean meal market fluctuated and rose. On November 1st, the average market price of soybean meal was 3,046 RMB/ton, and on November 14th, the average market price of soybean meal was 3,072 RMB/ton, with a price increase of 1.71%.

Starting from November, the expectation for US soybean exports has improved, and the external soybean futures market has strengthened. The domestic soybean meal futures market has been boosted, and prices have risen. As the middle of the month approaches, the high inventory of live pigs in the terminal breeding industry has led to a recovery in demand, supporting the rise of soybean meal market. The combination of long and short positions in the external market has led to fluctuations in the soybean meal futures market, with spot prices oscillating at high levels.

The soybean meal analyst from SunSirs believes that at the end of November, the number of imported soybeans increased, the operating rate of soybean oil plants increased, terminal demand declined, and negative factors suppressed the soybean meal market, resulting in a weaker future.

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