SunSirs: It is Expected that China Domestic Soybean Meal Basis will Operate strongly in the Short Term

National Grain and Oil Information Center: It is expected that the domestic soybean meal basis will operate strongly in the short term, and imported soybeans will be concentrated at the port at the end of April, which may weaken the basis.

Firstly, the recent low soybean inventory and decreased operating rate in oil factories may lead to a situation of tight domestic soybean meal supply in the past two weeks, which may gradually expand from North China to East and South China, supporting the strong operation of soybean meal basis.

Secondly, under the background of the economic and trade friction between China and the United States, the market is concerned about the stability of domestic soybean supply in the future. Recently, oil factories have accelerated the purchase of Brazilian soybeans, which has pushed up the import cost of Brazilian soybeans and benefited domestic soybean meal prices.

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