Price trend
According to the monitoring data of SunSirs, soybean meal entered the downward channel at the end of April, and the price continued to decline. After May Day, soybean meal continued to decline in a weak market. As of May 6, the average market price of soybean meal was 4,038 RMB/ton, down 2.62% from April 28.
Analysis review
The terminal feed demand turned weak, the external futures were bearish, and the soybean meal market fell.
Market outlook
Negative factors are still, and the soybean meal market is expected to decline weakly in the future.
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