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State Administration of Grain: the follow-up is expected to run weak soybean meal prices
Release time:
2024-12-14 00:00
Source:
National Grain and Oil Information Center December 6 news: Soybean meal prices fell this week mainly due to two reasons, one is the new season of Brazilian soybean production is expected to be strong, and the cost of imports than the U.S. soybeans lower, suppressing the price of soybean meal in the far-month. According to monitoring, 2025 March shipping Brazilian CNF export quotes only 411 U.S. dollars / ton, together with the port duty-paid price of 3400 yuan / ton, according to the price of soybean oil 8000 yuan / ton price calculations, the oil mill break-even when the soybean meal sales price is only in the 2580 yuan / ton or so, compared with the current domestic futures price of soybean meal is about 100 yuan / ton. Second, the domestic demand for feed farming is sluggish. 11 months since, the domestic feed enterprises weak demand for soybean meal, soybean meal stocks in the oil mills, although there is a decline, but the rate of decline is limited, the subsequent supply is still sufficient. Overall, if the subsequent South American soybean growth is normal, December domestic soybean meal prices will continue the weak trend. Concerned about the subsequent South American weather and the U.S.-China trade situation
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