Business Club: Inventories fall, soybean meal prices hit record highs – Xinhua English.news.cn

Securities Times e company news, according to the monitoring of the business agency, since July, the number of imported soybeans has declined, the operating rate of soybean oil plants has dropped, the soybean meal inventory has continued to be low, and multiple bulls have supported the soybean meal market. On the 23rd, the average spot market price of soybean meal rose to 5,362 yuan/ton, up 30.26% from the beginning of July. Li Bing, an agricultural product analyst at the business community, believes that during the 11th period, most soybean oil plants will be shut down for maintenance, the supply of soybean meal is still tight, and the bullish factors are still there, and the spot price of soybean meal will remain high in the future. Since the current soybean meal market is already at an all-time high, the upside in the market outlook may be limited.