SunSirs: Negative Pressure, China Soybean Meal Market Declines in September

According to the Commodity Market Analysis System of SunSirs, the soybean meal market in September showed a weak downward trend, mainly oscillating downward. On September 1st, the average market price of soybean meal was 3,106 RMB/ton. On September 28th, the average market price of soybean meal was 2,988 RMB/ton, a decrease of 3.8%.

At the beginning of September, due to the weak export of US soybeans, the overseas market for soybean meal weakened, suppressing the domestic soybean meal futures market. The futures market operated weakly, and the spot market for soybean meal declined. Due to weak demand for terminal aquaculture, the soybean meal market has experienced a decline in transactions and the market continues to decline, with a drop of nearly 100 RMB/ton. As of September 8th, the average price of soybean meal in the market remains at around 3,000 RMB/ton.

In the middle of the month, foreign market soybeans were gradually listed, and the production was basically fixed. However, there were still variables in Sino US trade, and the performance of foreign market soybean futures was weak. With the increase in imported soybean arrivals, the supply pressure has doubled, and the domestic soybean meal futures market has declined, while the spot market has followed suit. The terminal procurement of soybean meal is cautious and can be purchased as needed, with average market transactions. As of September 18th, the soybean meal market has fallen to around 3,000 RMB/ton, with a price drop of about 100 RMB/ton.

At the end of the month, the expectation of a high yield of US soybeans in the external market increased, and the overall price of soybean futures fell. As the National Day holiday approaches, the delivery speed of terminal feed factories has slowed down, entering a phase of low demand season. The combination of multiple negative factors has led to a continuous weakening of the soybean meal market. As of September 28th, the average market price of soybean meal has fallen below 3,000 RMB/ton, a decrease of over 3% compared to the beginning of the month.

The agricultural product analyst of SunSirs believes that after the National Day holiday, the terminal demand for soybean meal has rebounded, and the bearish factors in the external market have been exhausted. The soybean meal market is expected to see an upward trend in the future.

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