Follow the U.S. Soybean’s decline, soy meal attempts to explore 3600 | Soybean Meal_Sina Finance_Sina Net

original title:[收盘评论]The DCE market on August 4th: Following the decline of US soybeans Soybean mealTry to explore 3600 Source: Wenhua Finance

Wenhua Finance (Editor Nana)-Because the USDA’s crop status report released on Monday was better than market expectations, and the weather forecast showed that the possibility of rainfall in the Midwestern United States in the next few weeks would increase, the US soybean plunged more than 2% on Tuesday. The biggest drop in the past month. The domestic soybean meal and two meals collectively followed the decline. The stabilization of fats and oils also put pressure on the meal. However, the US soybean electronic market stabilized and fluctuated. Closed down 0.83%, soybean meal fell 0.86%, and once tried to reach 3,600 in the day.

Traders are still digesting the crop growth report released by the USDA after the close on Monday.The report shows that the United StatesSoybeansThe rating is better than expected. As of the week of August 1, 2021, the excellent growth rate of soybeans in the United States was 60%, and the average market estimate was 57%, compared with 58% in the previous week and 73% in the same period last year.

In the domestic market, the domestic soybean crush declined last week, the output of soybean meal decreased, the delivery speed of downstream feed farming enterprises was relatively stable, and the soybean meal inventory decreased. On August 2, the soybean meal inventory of major domestic oil plants was 1.13 million tons, a decrease of 40,000 tons from the same period last week and an increase of 250,000 tons from the same period last year. In recent weeks, the domestic soybean crush has remained at about 1.8 million tons. Stable, short-term soybean meal stocks are expected to fluctuate within a narrow range.

Although U.S. soybeans fell sharply overnight, today’s domestic soybean meal spot quotations are still up and down, with little change. The Jiangsu region, where the epidemic is more severe, has been very active in picking up goods, and shipments have increased. Regarding the soybean meal outlook, Luzheng Futures said that in the case of a recovery in domestic demand, disk squeeze profits will expand, so the performance of DCE soybean meal prices will be stronger than CBOT soybean prices. DCE soybean meal’s September and January contract price support is expected to be around 3400-3450 yuan/ton.

Editor in charge: Shi Moyan