SunSirs: The Pressure of Soybean Meal Expansion will not be significantly Alleviated in the Short Term
August 01 2024 09:40:15 SunSirs (Selena)
According to the National Grain and Oil Information Center, it is reported that some domestic oil plants will shut down for maintenance in August, and the operating rate will decrease slightly. However, imported soybeans will be concentrated at the port, and the decrease in operating rate will be lower than last year. The average weekly crushing capacity of oil plants in August may remain at around 2 million tons. Due to the general downstream demand and on-demand procurement, the enthusiasm for picking up goods is poor, and it is expected that the pressure of soybean meal inventory expansion in China will not be significantly alleviated in early August.
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