SunSirs: The Demand Was Sluggish, and the Soybean Meal Market Was Weak and Down
July 08 2022 09:43:18 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, since July, the overall soybean meal market was mainly oscillating weakly. On the 7th, the spot price of soybean meal was quoted at 4,078 RMB/ton, ushering in a rebound in the market, and the overall soybean meal fell by 0.97%.
Analysis review
Starting in July, soybean meal inventories were high because of sluggish terminal demand. Dominated by the negative, the price of soybean meal fell, and the price fell endlessly, with a drop of more than 2.5%.
On the 7th, driven by the soybean market in the outer disk, the spot of domestic soybean meal futures rose along with the disk, and the price rebounded slightly.
Market outlook
The agricultural product analyst of SunSirs believes that: US soybeans are in the growing period, the weather speculation is still the subject, and there is still room for soybean meal to rise in the future.
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