SunSirs: Rapeseed Meal Spot Price Fell on October 18
October 19 2022 10:04:56 SunSirs (John)
Price trend
According to the monitoring of SunSirs, the average price of rapeseed meal in the spot market on October 18 was 4,218 RMB/ton, down 0.24% from the previous trading day.
Analysis review
On the 17th, Zhengzhou Commodity Exchange rapeseed futures fell 3.17%, and on the 18th, Zhengzhou rapeseed futures continued to fall 3.36%. Rapeseed meal spot followed the fall. The peak season of aquaculture was basically over, and the demand for rapeseed meal was limited, which depressed the price of rapeseed meal. In October, the quantity of rapeseed to ports was limited, and the output of rapeseed meal decreased, supporting the price of rapeseed meal.
Market outlook
The pattern of high yield of rapeseed in the world has been determined. As the weather cools, the rapeseed meal will usher in the traditional off-season. It is expected that the rapeseed meal will operate weakly in shock.
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