In September, soybean meal continued its August rally, the market continued to rise, and the price rose step by step, approaching the 4,000 yuan mark, a record high in 8 years. At the beginning of the month, the average market price of soybean meal was 3,700 yuan/ton, and at the end of the month, the price of soybean meal rose to 3,958 yuan/ton, an increase of 6.97%.
Soybean meal in July also went up and down on a weekly basis, until mid-to-late August. Since the end of August, soybean meal has started a continuous rise mode, and the price has continued to rise for 5 consecutive weeks until the end of September. Soybean meal in July was mainly affected by the external market, and the weather and speculation factors repeated. Soybean meal went up and down. In August, the long-short game is still dominated. By September, the supply of soybean meal was tight, and the inventory was low. As October 11 was approaching, many crushing companies stopped work for maintenance, and soybean meal prices began to continue to rise.
At present, the average price of soybean meal in the market is over 3,950 yuan/ton, which is a record high in 8 years. The lowest soybean meal price in 2015 was only 2772 yuan/ton. Even the highest in 2014, the average soybean meal market price was only 3506 yuan/ton. This September Soybean meal performed well, and prices continued to hit record highs.
Multiple bullish support September soybean meal rises step by step
Beginning in September, the US soybeans in the external market were supported, and the stock market of terminal feed plants was boosted before the Mid-Autumn Festival. Soybean meal stocks were low, about 950,000 tons, down 5% month-on-month. Bullish support for soybean meal ushered in the rising market, September 1-8, soybean meal market rose 2.23%.
On September 13th, the negative factors in the market materialized, the external market pulled up, the Mid-Autumn Festival approached, and the market was bullish. Soybean meal spot ushered in a rise. The mainstream price was 3770 yuan/ton, an increase of about 50 yuan/ton, and a single day increase of more than 1%. . The terminal feed stocking market is driven by the strong performance of soybean meal. As of September 17, the price of soybean meal has risen by 1.31% compared with the beginning of the week.
After the Mid-Autumn Festival, due to the influence of the holiday, soybean meal began to drop after a short period of adjustment. Due to the power restriction policy, soybean oil plants in Tianjin were shut down. Near National Day, the soybean oil plants in Northeast China have plans to shut down. Soybean oil plants are shut down, soy meal supply is tight, and the stock market is supported by the approaching November. Soybean meal rose for three consecutive days. Because of the tight supply, the soybean meal spot has been separated from the influence of the futures market and began to be beautiful alone. Throughout September, soybean meal rose close to 7%, and the price was close to 4,000 yuan/ton.
Influenced by the power restriction policy, dozens of soybean crushing companies have suspended operations. In the short term, the supply of soybean meal is still tight, and the market outlook is still prone to rising but not falling.
