SunSirs: Positive Support, China Soybean Meal Market Rises

According to SunSirs, the futures prices of legumes in foreign markets have surged this week, followed by domestic soybean meal futures, and spot prices have risen one after another. The average price of soybean meal in the market has returned to the 3,000 RMB mark. On January 1st, the average market price of soybean meal was 2,866 RMB/ton, and on January 11th, the average market price of soybean meal was 3,052 RMB/ton, with a price increase of 6.49%.

In mid January, South American soybeans were in their growth period in the external market, and Argentina's rainfall decreased. The external soybean market rose, while the domestic soybean meal futures market rebounded. Soybean meal spot prices rose one after another, with the market average price rising to 3,000 RMB/ton, a price increase of nearly 7%.

According to the agricultural product analyst of SunSirs, as the year-end approaches, soybean oil factories are gradually shutting down for maintenance, and it is expected that the soybean meal market will continue to rise in the future.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.