SunSirs: Supply Tightening, Soybean Meal Market Rose in Shock
April 03 2023 10:24:38 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, since the end of March, the soybean meal market stopped falling and rebounded, the market rose in shock. On March 27, the average market price of soybean meal was 3,784 RMB/ton, while on March 31, the average market price of soybean meal was 3,844 RMB/ton, with a price increase of 1.59%.
Analysis review
Supply tightening, soybean meal market bottomed out and rebounded at the end of the month.
In March, the soybean meal market continued to oscillate and decline. In the last week of the end of the month, the startup rate of soybean oil plants decreased, and the pressure on soybean meal supply eased. The price started to rise, with a slight increase, with a weekly increase of 1.59%.
Market outlook
Agricultural product analysts from SunSirs believe that in April, demand in the terminal feed industry will rebound, and the future market for soybean meal is expected to continue to rise.
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