The latest data from the European Commission shows that as of November 16th, the import volume of soybean meal in the European Union was 6.74 million tons, a year-on-year decrease of 8.5%.

The import volume of soybean meal in the European Union decreased by 8.5% year-on-year, indicating weakened demand and negative pressure on spot prices. Based on the soybean meal futures data from Dalian Commodity Exchange, the 2601 contract fell by 30 RMB/ton to 3,043 RMB/ton, and the 2603 contract fell by 31 RMB/ton to 3,003 RMB/ton. The overall downward trend in prices is evident, and changes in holdings indicate a partial withdrawal of market funds, strengthening bearish sentiment. Therefore, the impact of this data on the soybean meal market is generally bearish.

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