The price of US soybeans exceeded 1150 cents! Still going up? Why does my country purchase high-priced US soybeans in large quantities

By yqqlm yqqlm

US soybeansToday The domestic soybean meal market continued to run slightly stronger, and the soybean meal quotations of some oil plants and traders increased slightly by 10-20 yuan/ton. US soybean futures prices fluctuated within a narrow range, and the price level remained at a 4-year historical high, leading to a slight increase in domestic soybean meal today. However, the recent market transaction level is general, the increase in soybean meal stocks and the accelerated rebound of soybean oil have made it difficult for soybean meal to increase prices.

getInterUrl?uicrIvZQ=d58e0bba01fe92d974b8e3923bb70f89 - The price of US soybeans exceeded 1150 cents! Still going up? Why does my country purchase high-priced US soybeans in large quantities

Soybean meal price Market analysis:

Statistics on the spot price of soybean meal in various places today:The mainstream soybean meal price in coastal port areas such as Shandong, Jiangsu, Fujian, Guangdong and Guangxi rose to around 3150-3280 yuan/ton; the price of soybean meal in Jilin and Liaoning rose to Around 3230-3340 yuan/ton; soybean meal quotations in Hebei and Tianjin increased to around 3220-3280 yuan/ton, soybean meal quotations in central China rose to around 3220-3320 yuan/ton, and soybean meal quotations in southwestern and northwestern regions stabilized at 3350-3450 Around RMB/ton.

The U.S. soybean futures market coexisted with longs and shorts. First, it fluctuated and fell back under the pressure of profit-taking and technical selling. Then, boosted by strong export and processing demand, it stopped falling and rebounded and closed slightly higher. Oil and meal are weakly differentiated, but the price level is still at a 4-year historical high. The sharp rise in the US soybean disk stimulated the increase in soybean oil prices, while the price of soybean meal was suppressed due to the loose supply. Oil plants chose a strategy of supporting oil pressure meal to increase profits.

As imported soybeans continue to arrive in Hong Kong, domestic oil plants have maintained a high operating rate. Soybean crushing volume this week has continued to remain above 2 million tons. After the November holiday, this is already a domestic oil plant. The crush has remained above 2 million tons for the fifth consecutive week. However, the overall purchase demand for soybean meal has not improved significantly, and the daily transaction volume is low. Oil plants in South China and East China have already seen swelling.

Soybean meal price forecast:

Although soybean meal will likely follow the US soybean futures price, recently due to weak domestic supply and demand fundamentals, there has been a mutual decline or a slight upward trend. Meidou soared like that. In addition to the supply-side suppression, the demand for soybean meal consumption has also fallen short of expectations; when aquaculture enters the off-season, the demand for soybean meal has slowed down and the delivery of goods has slowed down. Quotingbao predicts that soybean meal prices will continue to fluctuate slightly in the short term. In the long run, U.S. soybeans have now exceeded 1150 cents, and there is still a continuing upward trend, which will still affect the domestic soybean import cost. In addition, the demand for livestock and poultry breeding has improved, the demand for pig feed has increased significantly, and the consumption of soybean meal is strong. The future demand prospects are still promising. . (Market point of view and operational recommendations for reference only)

(Source:Quotes of treasure:Zhao Tian)

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