SunSirs: China's Soybean Meal Market Oscillated upward in May, an Increase of 2.28%

Soybean meal prices rose and fell in May, with ups and downs, and the overall increase was dominated. At the beginning of the month, the average price of soybean meal was RMB 3,515/ton. On the 25th, the average price of soybean meal was RMB 3,595/ton, an increase of 2.28%.

Soybean meal performed strongly in the first quarter of 2020, with both February and March rising, and in March it rose by more than 15.12%. The whole second quarter fell and fell.

The trend in 2021 is opposite to that in 2020. Soybean meal prices rose sharply for two weeks in January, with a maximum increase of 10%. After the sharp rise, the price of soybean meal ushered in a decline, falling for two consecutive weeks. Since February, soybean meal has continued its downward trend. During the Spring Festival, under the influence of U.S. soybeans, soybean meal ushered in a supplementary increase after the holiday, and the price rose slightly for two weeks. Soybean meal started a continuous decline in March, with a monthly decline of more than 10%.

Entering April, the price of soybean meal began to bottom out and rebounded. Due to the still negative factors, the diving market ushered in after the big rise, with an overall increase of 1.29%. Soybean meal prices began to rise and fall in May, and the overall increase was dominated, with an overall increase of 2.28%.

Long and short superposition May Soybean meal market oscillates up

During the May Day, due to the hype during the US soybean planting period, the CBOT bean products on the outer disk rose one after another. After the holiday, the soybean meal futures market rose, and the spot market soared. In addition, soybean meal stocks fell during the shutdown of soybean oil plants for maintenance. Bullish support, soybean meal rose close to 4% in the first half of the month.

In the second half of the month, the quantity of imported soybeans arriving in Hong Kong increased, and the demand for soybean meal was weakened, and the bad news came. After the soybean meal rose sharply, the diving market started, with a drop of nearly 1%. Towards the end of the month, due to the continuous decline in the soybean meal market, the soybean futures prices in the outer disk rose, some soybean oil plants shut down, and the oil plants were mainly priced, and the soybean meal spot price rebounded.

SunSirs agricultural products analysts believe that the increase in imported soybeans to Hong Kong, the US soybean growth period, there is still room for speculation, long-short game, and soybean meal prices in June still have room to rise.

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