farmvillenftgames| Rainfall in U.S. soybean producing areas affects sowing, floods in Brazil push up the cost of soybean meal

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[U.S. soybean prices fluctuatefarmvillenftgamesBrazil's premium price supports domestic soybean meal prices]

[Precipitation affects sowing, and the early growth of American beans is good] In the international market, some American soybean producing areas have encountered more precipitation, which has slightly hindered the sowing progress, but has a positive impact on the early growth of American beans. At present, the uncertainty of the weather has a certain thrust on the price trend of U.S. soybeans, making prices easy to rise but difficult to fall.

[Affected by floods in Brazil, causing prices to rise] At the same time, Brazil was affected by floods, and soybean production in the southern region was reduced, resulting in a strong rise in premium and premium prices, which in turn provided cost-side support for domestic soybean meal prices.

[Domestic supply is sufficient and crushing volume is high] Domestically, due to the abundant supply of raw materials, soybean crushing volume has been maintained at a high level. Upstream companies are facing pressure from inventory accumulation. Some companies are urging to pick up goods and expand their warehouses and shut down, which has a serious impact on spot prices. pressure.

[Be cautious on the demand side, focus on contract execution] On the demand side, the market mentality remains cautious. The downstream market mainly implements existing contracts and only refills the stock when it is just needed, which cannot provide significant support for prices.

[International supply support, domestic supply and demand release pressure] Although there is certain support on the international supply side, the combined effect of domestic supply and demand conditions has caused the spot price of soybean meal to remain within a narrow range of shocks, and the pressure on the spot basis price is particularly obvious.