According to the Commodity Market Analysis System of SunSirs, the soybean meal market improved in January, mainly oscillating upwards. At the beginning of the month, the average market price of soybean meal was 3,126 RMB/ton. On January 29th, the average market price of soybean meal was 3,186 RMB/ton, with a price increase of 1.92%.

Positive support for the rebound of soybean meal market in January

After New Year's Day, the operating rate of some soybean oil plants declined, and terminal feed manufacturers gradually started stocking up, resulting in a decrease in soybean meal inventory. The temporary supply is tight, and the soybean meal market is strengthening. Due to the high global soybean yield in the external market, the boost of futures market is limited, and the increase in soybean meal market is limited. The market mainly fluctuates narrowly, and the overall price has risen by about 50 RMB/ton, with an increase of nearly 2%.

The soybean meal analyst from SunSirs believes that as the Spring Festival approaches in February and soybean oil plants undergo centralized shutdowns for maintenance, the tight supply of soybean meal will continue, supported by positive factors. There is still room for upward momentum in the soybean meal market in the future.

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