This week's domestic soybean meal spot prices experienced slight fluctuations

Downstream enterprises have basically completed pre-holiday stockpiling, and soybean meal demand has declined, leading to additional inventory accumulation. Supply is relatively ample, and it is expected that there will be no significant change in the fundamentals before the holiday. Recently, Brazil’s soybean harvest progress has accelerated, with strong expectations of a good harvest, and long-term soybean meal supply is expected to be sufficient. Third, Australian rapeseed is being crushed, and market expectations suggest increased long-term rapeseed meal supply. It is expected that domestic protein meal prices will fluctuate weakly. On February 3, the price of 43% protein soybean meal in coastal areas ranged from 3030 to 3270 yuan/ton, down 30 yuan/ton to up 20 yuan/ton compared to the previous day, and down 60 yuan/ton to up 10 yuan/ton compared to the same period last week. According to monitoring, China’s soybean procurement for March shipping is basically completed, over 60% of April shipments have been purchased, and over 30% for May. Attention should be paid to subsequent oil mill vessel purchases and imported soybeans arriving at ports. (National Grain and Oil Information Center)