SunSirs: Soybean Meal Prices Rose Overall on February 21
February 22 2022 10:07:41 SunSirs (John)
Price trend
According to the monitoring data of SunSirs: on February 21, the price of soybean meal rose as a whole, the mainstream quotation has risen above the 4,100 RMB mark, and the market average price was 4,196 RMB/ton, an increase of more than 16% from the beginning of February.
Analysis review
After the Spring Festival, due to weather speculation, soybeans in South America rose, soybean futures prices strengthened, soybean meal futures prices skyrocketed, and spot prices rose along with the market, with prices consistently exceeding 4,100 RMB/ton.
Market outlook
At present, soybean meal prices are at a high level, and it is expected that the market outlook will be limited.
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