SunSirs: Bearish Factors, China Soybean Meal Market Declines
September 21 2023 14:17:07 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, since September, the soybean meal market has oscillated and fallen, with prices approaching 6%. On September 1st, the average market price of soybean meal was 5,012 RMB/ton. On September 20th, the average market price of soybean meal was 47,04 RMB/ton, with a price drop of 6.15%.
Since September, the off-season for terminal aquaculture consumption has arrived, and the demand for soybean meal has declined. On the external market, the bullish factors of American soybeans have been realized, and the bearish atmosphere in the market is dominant. The futures market of soybean meal continues to decline, with spot prices falling. The price of soybean meal has dropped from 5,000 RMB/ton to 4,700 RMB/ton, with a price drop of 300 RMB/ton, a drop of over 6%.
SunSirs agricultural product analyst believes that as the Double Festival approaches and the stock market drives, there is still room for improvement in the soybean meal market in the future.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
- 2025-04-30 SunSirs: It is Expected that the Domestic Soybean Meal Spot Price will Turn from Strong to Weak in May
- 2025-04-29 SunSirs: The Spot Price of Soybean Meal is rapidly Rising in China, Pushing Up the Feed Costs of Breeding Enterprises
- 2025-04-28 SunSirs: The Supply of Imported Soybeans is Guaranteed in China, and the Short-term Price Increase of Soybean Meal is Difficult to Sustain
- 2025-04-27 SunSirs: Brazil's Market Share in the EU Soybean Meal Market Dropped to 50% on April 20
- 2025-04-25 SunSirs: Positive Support, China Soybean Meal Market Continues to Rise
