SunSirs: China Soybean Meal Market Fluctuates and Fises in November

According to the Commodity Market Analysis System of SunSirs, starting from November 1st, there was a combination of long and short positions, and the soybean meal market fluctuated and rose. On November 1st, the average market price of soybean meal was 3,046 RMB/ton, and on November 27th, the average market price of soybean meal was 3,100 RMB/ton, with a price increase of 1.77%.

At the beginning of the month, the expectation of US soybean exports improved, and the external soybean futures market strengthened. The domestic soybean meal futures market has been boosted, and prices have risen. The terminal feed factory is cautious in procurement, and soybean meal transactions have declined. Demand remains sluggish, and the soybean meal market is fluctuating with both ups and downs. The overall oscillation is dominant, and the price continues to be around 3,000 RMB/ton.

In the middle of the month, the expectation for US soybean exports improved, and the external soybean futures market strengthened. The domestic soybean meal futures market has been boosted, and prices have risen. As the middle of the month approaches, the high inventory of live pigs in the terminal breeding industry has led to a recovery in demand, supporting the rise of soybean meal market. The combination of long and short positions in the external market has led to fluctuations in the soybean meal futures market, with spot prices oscillating at high levels.

At the end of the month, the export of US soybeans improved, the foreign futures market was boosted, and the spot market for soybean meal saw an increase, with prices rising to 3,100 RMB/ton, an increase of over 1%.

Business Society soybean meal analyst believes that in December, the number of imported soybeans increased, soybean meal inventory remained high, and terminal demand was sluggish, putting pressure on the future upward trend of soybean meal market.

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