SunSirs: Long Short Game, China Soybean Meal Market Fluctuates and Rises

According to the Commodity Market Analysis System of SunSirs, after the National Day holiday, the external market boosted and the soybean meal market rose. However, in the middle of the month, the market fell slightly due to the drag of terminal demand. On October 1st, the average market price of soybean meal was 2,988 RMB/ton, and on October 15th, the average market price of soybean meal was 3,014 RMB/ton, with a price increase of 0.87%.

During the National Day holiday, the price of American soybeans fluctuated and rose in foreign markets. China has not yet opened up its procurement of American soybeans, and the overall increase is limited. During the National Day holiday, the price of soybean meal rose. On September 30th, the price of soybean meal rose to 274.3 US dollars per short ton. On October 8th, the price of soybean meal rose to 275.6 US dollars per short ton, an increase of 1.3 US dollars per short ton, or 0.47%. Domestic soybean meal opened higher, with an opening price of 2,950 RMB/ton, up 22 RMB/ton from September 30th.

In the middle of the month, the demand for terminal feed was weak, and the boost from futures market was limited. The rise in soybean meal market was weak, and prices gradually declined. As of October 15th, the soybean meal market continued to hit the 3,000 RMB/ton mark.

The soybean meal analyst from SunSirs believes that in late October, the demand for terminal feed increased, and the amount of imported soybeans arriving at the port was lower than in previous periods. Therefore, there is still room for the soybean meal market to rise in the future.

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