Soybean Meal Futures Daily: U.S. soybeans fell for five consecutive days, poor exports of Maltese palm, domestic oils and oils were affected and fluctuated downwards

Strategic point of view

Soybean meal:

US soybeans fell for 5 consecutive days, dragging down the mealMain forceThe contract weakened, closing down 0.37%, and the futures price fell back to 3,500 lines. U.S. soybeans’ weakness is mainly due to concerns that the power outage caused by Hurricane Ida and damage to crop facilities in the Gulf of Mexico will slow down exports. The library speed slows down. It is expected that before the USDA September supply and demand report is released, the continuous meal will oscillate around the 3500 line. It is recommended to operate after the US soybean output is confirmed.

grease:

On the 1st, continuous soy oil was stronger than palm oil. The intraday volatility fell 1.3% and fell below the 9000 support level. The continuous palm oil volatility fell. Eventually, the main contract fell 2.26%, setting a new low in a week, and holdings dropped by nearly 14,000 lots. , The market’s bullish sentiment was suppressed. Fundamentally, the new crop of US soybeans is expected to be relatively strong. The impact of Hurricane Ida on exports that have just recovered. The weakening of US soybeans drags down the domestic soybean chain varieties. In addition, ITS announced that the export data of horse palm oil in August dropped by more than 15%. %, increase the expectation of the stock of horse palm oil in August, and the margin of supply and demand of horse palm oil is weak. From a domestic perspective, there is a strong expectation that the arrival of soybeans to Hong Kong will decrease in the later period and the demand will increase before the double festival, and the support for the disk is strong. It is expected to oscillate around the first-line high of 9000. Waiting for the USDA September supply and demand report and the MPOB August supply and demand report guidance. It is recommended to wait and see in the near future. .

(Source: Guoyuan Futures)

Article source: Guoyuan Futures

Editor in charge: DF155

Original Title: Soybean Meal Futures Daily: U.S. soybeans fell for five consecutive days, poor exports of Maltese palm, domestic oils and oils affected, fluctuated downward