The weekly export sales report reissued by the US Department of Agriculture shows that as of the week ending October 23, the export sales volume of US soybean meal was 640,000 tons, higher than the previous market expectation of 50,000 to 500,000 tons.

The report from the US Department of Agriculture shows that the export sales volume of soybean meal reached 640,000 tons, significantly higher than the market's expected upper limit of 50,000 to 500,000 tons, indicating strong international demand exceeding expectations. This will provide support for the spot price of soybean meal, as the increase in exports reflects the tightening of supply and demand, which may push up the spot market price. Based on the soybean meal futures data from Dalian Commodity Exchange (such as the settlement price of contract 2601 at 3,044 RMB/ton, up or down -6), this positive news may alleviate the current downward pressure and even drive futures prices up, as the increase in demand strengthens market confidence. Overall, it is considered a generally positive factor with a positive bias.

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