SunSirs: Lack of Positive News, China Rapeseed Meal was Weak and Volatile
February 07 2024 14:54:12 SunSirs (Selena)
According to the monitoring of the commodity market analysis system of SunSirs, the average market price of rapeseed meal on January 25th was 2,761 RMB/ton, and on February 6th, the average market price of rapeseed meal was 2,716 RMB/ton, with a decrease of 1.63% during the period.
Recently, the market for rapeseed meal has fluctuated narrowly. The quantity of imported rapeseed in China is sufficient; As the Spring Festival approaches, downstream stocking is basically coming to an end, and coupled with the off-season demand for aquaculture, there is weak support on the demand side. The expected high yield of South American soybeans is maintained, and South American soybeans are entering the harvest period. The market supply pressure is increasing, which is bearish for the oil and fat market, and the meal market is under pressure and downward. It is expected that the quantity of imported rapeseed in China will significantly decrease in February and March, and the supply of rapeseed meal may decrease. The demand side is in the off-season of aquaculture in the first quarter, and support may be limited. It is expected that rapeseed meal will continue to adjust narrowly.
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 January 25th was 3,520 RMB/ton, and on February 6th, the average market price of soybean meal was 3,414 RMB/ton, with a decline of 3.01% during the period. The weak soybean meal market has dragged down the rapeseed meal market.
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- 2024-04-28 SunSirs: China Rapeseed Meal Rose Last Week (April 22-26)
- 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
