China’s soybean meal market continues to weaken

According to SunSirs, a China commodity analysis system, since the end of May, imported soybeans have increased in China, while the market continues to show a downward trend. In May, the price of soybean meal in China has fallen by more than 14% over the month, and since the beginning of June, the price per ton of the product has fallen by another 2.75%.

As of June 5, the average market price of soybean meal was 2,900 yuan per ton, which is 100 yuan per ton lower than at the end of May, and the overall decline over the week was about 3%.

Analysts believe that at the end of June, the supply of imported raw soybeans will remain sufficient, the workload of soybean oil plants will increase, and demand in the end market will be low, so the soybean meal market will continue to weaken.