SunSirs: Supply Pressure Remains, China Soybean Meal Market Continues to Decline

According to the commodity analysis system of SunSirs, since March, negative factors have suppressed the soybean meal market, causing a continuous decline in price. On March 1st, the average market price of soybean meal was 3,722 RMB/ton, and on March 19th, the average market price of soybean meal was 3,402 RMB/ton, a decrease of 8.6% in price.

Since March, the number of imported soybeans has increased, leading to doubled supply pressure and weak demand for terminal feed, resulting in average market transactions. The boost effect of external soybean futures is limited, and multiple negative factors are suppressing it. The spot market for soybean meal continues to decline, falling to 3,400 RMB/ton, a decrease of 300 RMB/ton from the beginning of the month.

The soybean meal analyst from SunSirs believes that at the end of March, the supply pressure of imported soybeans as raw materials was high, the terminal demand declined, and the futures market fell. The soybean meal market will continue to operate weakly in the future.

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