China’s soybean meal market continues to fall

게시됨 2024년 10월 21일

Tridge 요약

The Chinese domestic soybean meal market is currently experiencing a decline, with prices dropping over 4% in the first half of the month. Although soybean imports decreased by 6.3% in September 2024 compared to the previous month, they have increased by 59% year-on-year, reaching 11.37 million tons. From January to September, imports totaled 81.85 million tons, marking an 8.1% rise from the previous year. Soybean meal stocks are also decreasing, with current levels at 1 million tons as of mid-October. The demand from the livestock industry and feed mills is waning, contributing to the weak market conditions. However, analysts anticipate market growth as the impact of a large U.S. soybean crop is absorbed. UkrAgroConsult provides market intelligence for grains and oilseeds through its AgriSupp platform, offering a 7-day free demo.

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원본 콘텐츠

According to the analysis of China’s national commodity market monitoring system, the domestic soybean meal market still maintains a downward trend, fluctuating during the first half of the month. The average market price of soybean meal fell by more than 4%. According to the General Administration of Customs, China’s soybean imports in September 2024 totaled 11.37 million tons, down 6.3% from the previous month and up 59% year-on-year. From January to September, the cumulative volume of China’s soybean imports was 81.85 million tons, up 8.1% from the same period last year. The volume of soybean imports decreased in September but remains high. Pressure on soybean import supply remains, limiting the upward trend in soybean meal prices. As of October 15, soybean meal stocks totaled 1 million tons and are showing a downward trend. As October approaches, demand in the terminal livestock industry is declining and soybean meal purchases by feed mills are declining. Analysts believe that ...

출처: UkrAgroConsult