SunSirs: Positive News, China Soybean Meal Market is Rising
March 12 2024 14:24:57 SunSirs (Selena)
According to the commodity market analysis system of SunSirs, starting from March, there was a bullish trend, and the domestic soybean meal market experienced an upward trend, with a fluctuating upward trend. As of March 11th, the average market price of soybean meal was 3,504 RMB/ton, an increase of 6.44% compared to early March.
Since March, the soybean meal market has been at a low level, with traders mainly bearish and low inventory. The USDA report was neutral and bullish, with futures prices rising and soybean oil factories raising prices. Traders bought during the rise, and the soybean meal market saw a significant increase, rising 5.42% in a single day.
SunSirs agricultural product analyst believes that the futures market lacks sustained momentum and the soybean meal market may continue to decline weakly in the future.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
- 2024-04-16 SunSirs: The Bearish Sentiment still Exists, China Soybean Meal Market may Hit a New Low
- 2024-04-12 SunSirs: Daily Report of China Commodity Data (April 12, 2024)
- 2024-04-11 SunSirs: Daily Report of China Commodity Data (April 11, 2024)
- 2024-04-11 SunSirs: The Bearish Trend is Dominant, and The Technical Decline of Soybean Meal is Difficult to Change
- 2024-04-07 SunSirs: China Soybean Meal Market Fluctuated and Declined, with a Decline of Over 12% in the First Quarter of 2024
