SunSirs: Under the Dominance of the Negative Factors, the Soybean Meal Market Oscillated and Fell
June 06 2022 09:09:04 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, from the end of May, under the negative pressure, soybean meal oscillated and fell. As of May 29, June 3, the average market price of soybean meal was 4,280 RMB/ton, down 0.7% from May 29.
Analysis review
Since the end of May, the terminal hog market has weakened, the demand for feed has turned weak, and the soybean meal market has declined until the beginning of June. The price fell to 4,280 RMB/ton, down 0.7%. The price of soybean futures in the outer disk continued to fall, dominated by the negative, and the soybean meal market was unable to rise, continuing at 4,200 RMB/ton.
Market outlook
The agricultural product analyst of SunSirs believes that the theme of weather speculation in the outer disk is still there, and there is still room for growth in the soybean meal market outlook.
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