SunSirs: Soybean Meal Market Rebounded in April

Price trend

According to monitoring data from SunSirs, starting from April, the demand for terminal feed improved, soybean meal inventory in soybean oil factories was low, supply was tightening, and soybean meal saw an upward trend. At the beginning of the month, the average market price of soybean meal was 3,844 RMB/ton. On the 27th, the average market price of soybean meal was 4,318 RMB/ton, with a price increase of 12.33%.

Supported by bullish sentiment, the soybean meal market continued to rise in April

At the beginning of the month, the demand for aquatic feed gradually improved, and the amount of soybean meal purchased by feed enterprises rebounded. Due to low inventory in soybean oil factories, the stock volume of feed enterprises gradually increased, and the spot market of soybean meal improved, with prices returning to the 4,100 RMB mark.

In the middle of the month, due to the influence of customs policies, imported soybeans entered the factory slowly, the operating rate of soybean oil factories decreased, the inventory of soybean meal decreased, and supply became tight. Supported by bullish sentiment, soybean meal futures saw a significant rise, and spot prices followed suit, with mainstream quotes breaking through the 4,400 RMB mark, an increase of over 14%.

At the end of the month, after the sharp rise in the soybean meal market, the demand for terminal procurement declined. The market's recognition of the high price of soybean meal was average, and transactions were limited. The soybean meal market gradually corrected, and the price fell to the first line of 4,300 RMB/ton.

Market outlook

Agricultural product analysts from SunSirs believe that the supply of imported soybean raw materials remains loose, and it is expected that the soybean meal market will continue to decline weakly in the future.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com