SunSirs: China Soybean Meal Market Fluctuates and Rises in September

According to the Commodity Market Analysis System of SunSirs, the soybean meal market fluctuated and rose in September, with an increase of over 4%. On September 1st, the average market price of soybean meal was 3,050 RMB/ton, and on September 29th, the average market price of soybean meal was 3,188 RMB/ton, with a price increase of 4.46%.

At the beginning of 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%.

In the middle of the year, the number of domestic soybean imports increased sharply, and the supply pressure depressed. Soybean meal continued to decline in a weak way. After the Mid-Autumn Festival, the demand for end feed increased, and the market of soybean meal rose in a volatile manner, with the price rising to 3,130 RMB/ton, up about 1%. There is a long short game in the external market news, and the soybean meal futures market is fluctuating. The pressure on domestic soybean meal inventory remains, with limited upward potential, and overall oscillation is dominant.

At the end of the month, the stocking market of terminal feed factories started, and the soybean meal market saw an increase of over 2%.

The agricultural product analyst of SunSirs believes that after the National Day holiday, the rigid demand for terminal feed will support the soybean meal market, and it is expected to continue to rise in the future.

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