On December 17th, China National Grain and Material Reserve Data Center reported that the soybean meal inventory in domestic oil factories is still at a high level of over one million tons, and downstream procurement enthusiasm is not high. Coastal oil factories have significant inventory pressure, and the basis price has slightly decreased, still showing a pattern of low in the south and high in the north. On December 16th, the spot price of ordinary protein soybean meal in North China was quoted at M2601+20 RMB/ton, M2601-20 RMB/ton in East China, and M2601-20 RMB/ton in South China, with a weekly decrease of 20-30 RMB/ton.

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