National Grain and Oil Information Center in China: The cost side forms support for domestic soybean meal prices, and it is expected that domestic soybean meal prices will remain high and volatile in the short term

State Grain and Oil Information Center, May 31st: On May 30th, soybean meal futures prices on the Dalian Commodity Exchange fluctuated within a narrow range, with the main 2209 contract closing slightly down 0.17% to 4193 yuan / ton. The spot price of 43% protein soybean meal in coastal areas was 4220～ 4,320 yuan/ton, fluctuating by 10-20 yuan/ton from the previous day, including 4,270-4,300 yuan/ton in North China, 4,200-4,320 yuan/ton in East China, and 4,280-4,300 yuan/ton in South China. Feed breeding enterprises are not very motivated to purchase, and transactions are average. Recently, domestic soybean arrivals have been huge, soybean and soybean meal stocks have continued to rise, and soybean meal basis prices have continued to decline. On May 23, the spot basis for ordinary protein soybean meal in Dalian, Liaoning, was quoted at M2209+150 yuan/ton, and the spot basis in Tianjin was quoted at M2209+. 90 yuan/ton, Shandong Rizhao’s May basis offer M2209+20 yuan/ton, Jiangsu ...