Today, Zhengzhou Rapeseed Meal Futures opened lower and then fluctuated and adjusted

Today, Zhengzhou rapeseed meal futures opened lower and then fluctuated sideways. Canadian canola futures closed higher, with the benchmark contract up 0.7%, rebounding from Monday’s decline, mainly reflecting the strength of external vegetable oil markets. Spot rapeseed meal prices remain stable. On the supply side, domestic rapeseed inventories are at historically low levels, with the operating rate of coastal oil mills at only 0.53%, and weekly rapeseed meal production nearly zero. On the demand side, aquaculture is still in the winter off-season, with daily pickup volumes only in the hundreds of tons, and the unit protein price difference between soybean and rapeseed meal is low, so the substitution advantage of rapeseed meal is not obvious. Overall demand is relatively weak. In the short term, rapeseed meal is expected to fluctuate sideways. (China Feed Industry Information Network)