China’s soybean meal market grew by 12% in January

According to SunSirs Commodity Market Analysis System, with the onset of the Chinese New Year (lasting until February 12), China’s soybean meal market is experiencing a significant surge, showing a 12% increase in January and more than 3% growth in the last week.

In early January, feed demand was weak, supply was volatile, and soybean futures performance in foreign markets was average. In the middle of the month, South American soybeans were in a period of growth, with bean prices in world markets rising, while the domestic soybean meal futures market was recovering from low levels, which accounted for the strong growth numbers.

At the end of the month, as the Chinese New Year approached, domestic soybean oil mills were gradually shut down for maintenance, leading to supply shortages. Soybean stocks continued to rise, up more than 5% for the month.

According to agricultural product analysts SunSirs, soybean oil plants will gradually resume operation after the holidays, and feed demand will resume with renewed vigor, continuing the upward trend of the soybean meal market in the future.

Tags: China, soybean meal