According to the Commodity Market Analysis System of SunSirs, in early August, with bullish support, the soybean meal market saw an upward trend. On August 1st, the average market price of soybean meal was 2,998 RMB/ton, and on August 5th, the average market price of soybean meal was 3,020 RMB/ton, with a price increase of 0.73%.

Since August, due to good export data of US soybeans, the overseas market for soybean meal has strengthened, which has boosted the domestic soybean meal futures market. The futures market has rebounded, and the spot market for soybean meal has steadily risen. Due to the sluggish demand for terminal aquaculture and weak trading in the soybean meal market, the upward trend of the market is limited, and the overall price is mainly slightly rising, with an adjustment of 30 RMB/ton. The market average price is still in the range of 3,000 RMB/ton.

The soybean meal analyst from SunSirs believes that in mid August, the number of imported soybeans doubled, the operating rate of soybean oil plants increased, and the terminal demand was poor. The soybean meal market is still under pressure to rise in the future.

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