According to the Commodity Market Analysis System of SunSirs, in early February, the soybean meal market operated weakly with slight price fluctuations. On February 1st, the average market price of soybean meal was 3,178 RMB/ton, and on February 9th, the average market price of soybean meal was 3,170 RMB/ton, a decrease of 0.25% in price.

Since February, as the Spring Festival approaches, soybean oil plants have been shut down for maintenance, resulting in a tight supply of soybean meal. Due to the end of the stocking market for terminal feed manufacturers, the enthusiasm for purchasing soybean meal has decreased, and the trading volume of soybean meal market has declined. Expectations of high soybean yields in South America continue to increase in the external market, with futures prices suppressing and soybean meal spot prices weakening, resulting in slight price fluctuations. As of February 9th, the average market price of soybean meal has remained around 3,150 RMB/ton, with a price drop of 10-20 RMB/ton.

The soybean meal analyst from SunSirs believes that during the Spring Festival, soybean oil plants will shut down for maintenance, resulting in tight supply. The bullish factors are still present, and there is still room for the soybean meal market to rise in the future.

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