SunSirs: Argentine Soybean Meal Enters China for the First Time
November 20 2025 14:18:17 SunSirs (Selena)
A 30,000 ton shipment of Argentine soybean meal has successfully cleared customs, marking the first time Argentine soybean meal has entered the Chinese market since being approved for import into China in 2019.
Reason for rating: Argentine soybean meal has entered the Chinese market for the first time, with an increase in supply of 30,000 tons, which may exacerbate the loose supply in the domestic market and exert downward pressure on soybean meal spot prices, with significant negative factors. Based on futures data analysis, soybean meal contracts on the Dalian Commodity Exchange (such as the closing price of contract 2601 at 3,043 RMB/ton, down 30 yuan; the closing price of contract 2603 at 3,003 RMB/ton, down 31 yuan) have generally fallen recently, with changes in holdings indicating a reduction in main contracts (such as a decrease of 38,917 holdings in contract 2601), reflecting market concerns about increased supply. The event has strengthened the downward trend of futures prices, and the spot market may also be under pressure due to intensified competition.
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