According to data monitoring by SunSirs: Since December, soybean meal has continued its weak market in November. At the beginning of the month, the price of soybean meal has dropped by nearly 2%. In the middle of the month, U.S. soybeans rose, and soybean meal was boosted, and prices continued to rebound, rising by 1.27% in a single day. As of December 16, the average price of soybean meal in the market was 3,182 yuan/ton, which was still down 1.16% from the beginning of the month due to the large decline in the previous period.

According to the chart of soybean meal prices from January 2019 to November 2020, soybean meal in the fourth quarter of 2019 only rose in October, with an increase of more than 4.3%. The decline was mainly in November and December, and the decline in December was the largest, as high as 5.85%.

In 2020, soybean meal will fall more and increase less. There will be 6 months of falling and 5 months of rising. The month with the largest decline was April, with a decline of 11.12%; the month with the largest increase was March, with a rise of 15.12%. Soybean meal in October in the fourth quarter rose the same as in 2019, a larger increase than last year, exceeding 5%. It still fell 1.44% in November. At present, the overall soybean meal still maintains a downward trend in December, with a decline of 1.16%.

Soybeans gain strength, soybean meal may usher in a turning point

Since December, the demand for terminal feed has been poor, and the number of imported soybeans has increased sharply. In November, imported soybeans reached 9.59 million tons, a year-on-year increase of 15.8%. The operating rate of soybean oil plants rebounded, supply pressure was suppressed, and the soybean meal market rebounded weakly, showing a diving market, which began to fall continuously at the beginning of the month. In the middle of the month, U.S. soybeans went on the market one after another. Coupled with strong U.S. soybean meal export data, U.S. soybean futures prices rose. Even soybean meal followed the market and the soybean meal spot rose. Prices ushered in a rebound, with a daily increase of more than 2%.

SunSirs agricultural product analyst Li Bing, US soybeans are rising and the spot price of soybean meal continues to be low. With the support of US soybean prices, the domestic soybean meal market may usher in an inflection point, and terminal demand is sluggish. In the long run, soybean meal is still difficult to usher in a significant increase. Rising prices.

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