SunSirs: Negative Sentiment still Exists, China Soybean Meal Market Faces a Pullback after Rising

According to the Commodity Market Analysis System of SunSirs, since September, the domestic soybean meal market has gradually rebounded after rising, oscillating upwards, and the market average price has exceeded the 3,100 RMB mark, with an overall decline of over 3%. On September 1st, the average market price of soybean meal was 3,052 RMB/ton, and on September 9th, the average market price of soybean meal was 3,132 RMB/ton, an increase of 2.62%.

Starting from September, the demand for terminal feed increased, and the soybean meal market saw a rise, with prices rising to 3,150 RMB/ton, an increase of over 3%. Due to the continued pressure on soybean meal inventory and limited boost from external futures market, the soybean meal market experienced a pullback after rising. As of September 9th, the soybean meal market price fell to 3,130 RMB/ton, a decrease of 0.57%.

The soybean meal analyst from SunSirs believes that with the recovery of terminal feed demand and the support of rigid demand, the market for soybean meal may rise in the future.

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