Source: Jintou.com
According to the monitoring of the business agency: after the Mid-Autumn Festival,soybean mealThe market has ushered in a sharp rise, with a single-day increase of more than 4%, and an increase of more than 9% from the beginning of the month. On September 1, the average market price of soybean meal was 4,512 yuan/ton. On the 13th, the average market price of soybean meal was 4,944 yuan/ton, up 9.57%.
During the Mid-Autumn Festival, the USDA report announced that U.S. soybean yields, new production and inventory estimates were lowered across the board, lower than market expectations. After the holiday, the soybean futures market opened sharply. On September 13, even the soybean meal M2301 contract opened at 4,060 yuan/ton, and the latest offer was 4,039 yuan/ton, up 200 yuan/ton. The futures market has risen, and the spot price of soybean meal has risen to 4,900 yuan/ton, ushering in a new high in the second half of the year.
Since September, the terminal feed stocking market has started, and the spot market of soybean meal has been supported.Customs data show that China’s AugustsoybeanImports were 7.17 million tons, down 24.5% from 9.49 million tons in the same period last year, the lowest import volume for the same period since 2014. The quantity of imported soybeans declined and supply expectations declined, supported by multiple bullish factors, the soybean meal market continued to rise.
Li Bing, an agricultural product analyst at the Business Society, believes that the external market is still bullish, supported by rigid terminal demand, and the price of soybean meal will remain high in the short term.
(Article source: Business Club)
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