SunSirs: Negative Pressure, China Domestic Soybean Meal Market was Weak and Declining
December 20 2023 14:16:41 SunSirs (Selena)
According to the commodity market analysis system of SunSirs, terminal demand is weak, and the domestic soybean meal market is declining, with a decline of nearly 3%. On December 12th, the average market price of soybean meal was 4,058 RMB/ton. On December 18th, the average market price of soybean meal was 3,942 RMB/ton, a decrease of 2.86%.
Starting from December 12th, the domestic soybean meal market has declined, with prices oscillating and falling below the threshold of over 4,000 RMB. As the end of the year approaches, the quantity of imported soybean raw materials has increased, and the demand for terminal feed raw materials is weak. Feed enterprises are purchasing soybean meal, coupled with the continuous decline in foreign soybean futures prices, the domestic spot soybean meal market is weakening, with an average market price of 3,982 RMB/ton, a decrease of more than 2%.
SunSirs agricultural product analyst believes that the demand for feed is poor, and the pressure on the soybean meal market to rise in the future is doubled.
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