According to the monitoring data of SunSirs, the soybean meal market continued to rise on March 22, rising by more than 3% in a single day.
Analysis review
Since March, the soybean meal market has continued to rise, reaching new highs repeatedly. The price has exceeded 5,000 RMB/ton, an increase of more than 17%.The main reason is that the supply of soybean meal is tight, the inventory is low, and the impact of the epidemic has increased transportation costs. Multiple bullish factors are superimposed, and soybean meal prices remain high.
Market outlook
Soybean meal prices are expected to remain high in the short term.
