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SunSirs: Negative Pressure, China's Soybean Meal and Oils Fully Callback

May 11 2021 09:02:05     SunSirs (Linda)

After the May Day holiday, the external market pulled up. Soybean meal, soybean oil, palm oil and the opening quotation ushered in a big rise. Due to the sharp increase in the number of imported soybeans, the bad news came. This week, the soybean meal, soybean oil and palm oil spot has been fully adjusted. Soybean meal has fallen for several days, with a decline of more than 1.2%; soybean oil has fallen by 0.31% on a daily basis; palm oil has fallen by 0.78% on a daily basis.

External disks rose, soybean meal, soybean oil, palm oil continued to rise

Due to the sharp increase in soybean oil and fat prices during the May Day holiday, soybean meal oil futures prices rose sharply after the May Day holiday, and the futures market was boosted. The domestic soybean meal oil spot market rose one after another. As of May 7, the average soybean meal market price 3,625 yuan/ton, an increase of 4.77% compared to before the holiday; the average price of soybean oil market was 9796 yuan/ton, an increase of 4.44% compared to the pre-holiday; the average market price of palm oil was 8,724 yuan/ton, an increase of 6.88% compared to the pre-holiday.

Negative pressure, soybean meal, soybean oil, palm oil, full callback

On May 10, due to the doubling of soybean imports, my country's soybean imports in April were 7.448 million tons and 28.627 million tons in January-April, an increase of 16.8% compared with the same period last year. As the downstream supply pressure of soybean meal and soybean oil is expected to increase, coupled with the fact that soybean oil palm oil is at a historical high, market transactions have declined, and negative factors have struck, and soybean meal, soybean oil and palm oil have been fully adjusted.

U.S. soybeans are in the planting period, and the hidden danger of the epidemic in Malaysia is still there. After the soy oil palm oil and soybean meal callback, there is still room for growth.

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