SunSirs: Demand is Weak, China Rapeseed Meal Continues to be Weak
December 22 2023 11:22:58 SunSirs (Selena)
According to the monitoring of the commodity market analysis system of SunSirs, the average market price of rapeseed meal on December 15th was 2,965 RMB/ton, and on December 20th, the average market price of rapeseed meal was 2,938 RMB/ton, with a decrease of 0.90% during the period.
Recently, the market for rapeseed meal remains weak, but the downward space has narrowed compared to the previous period. It is expected that a large amount of imported rapeseed will gradually arrive at the port, the operating rate of oil factories will increase, and the supply of rapeseed meal is expected to be loose. Aquaculture is in the off-season, and the rigid demand for rapeseed meal is weakening. The price difference of soybean and rapeseed meal is at a high level, and rapeseed meal has a certain substitution advantage, but its support is limited. The supply and demand of rapeseed meal are weak, with bearish factors dominating, and the rapeseed meal market continues to be weak.
In terms of soybean meal: According to the monitoring of the commodity market analysis system of SunSirs, the average market price of soybean meal on December 15th was 3,982 RMB/ton, and on December 21st, the average market price of soybean meal was 3,904 RMB/ton, with a decrease of 1.96% during the period. Recently, the soybean meal market has been fluctuating and declining, dragging down the rapeseed meal market.
The demand for rapeseed meal is in the off-season, and the market's bullish support is not good. The supply of rapeseed meal is expected to increase, and it is expected that rapeseed meal will continue to operate in a narrow and weak range.
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- 2024-04-19 SunSirs: Insufficient Support, China Rapeseed Meal Rose first and then Fell
- 2024-04-15 SunSirs: China Rapeseed Meal Fluctuated narrowly Last Week (April 7-12)
- 2024-04-07 SunSirs: China Rapeseed Meal Market Rebounded weakly, Falling by over 8% in the First Quarter of 2024
- 2024-03-28 SunSirs: The Price of China Rapeseed Meal has been Lowered
- 2024-03-22 SunSirs: Positive Support, China Rapeseed Meal Continues to Rise
