Soybean meal: Brazilian soybean harvest blocked, even meal follows U.S. beans to remain strong

Golden Ten Futures, May 7th, the first trading day after the festival even jumped through the gap and opened higher, making up for the increase in US beans. In the short term, pay attention to the pressure of gap compensation. International, pay attention to US bean planting, South American bean harvest, and Friday night's May supply and demand report. Domestically, Brazil and US bean disk imports continued to rise month-on-month. China's import of soybeans to Hong Kong increased sharply from April to June, and the demand for oil plants to overlay was higher. The weekly pressing volume of soybeans in oil plants fell year-on-year, but the downstream demand was sluggish, and the soybean meal bank of oil plants accumulated, and the registered warehouse receipts increased significantly. In the long run, the area and production of soybeans in 24/25 will increase in advance, and the global soybean market will remain loose. Domestic farming capacity reduction limits demand growth. The internal and external disk is still in a downward trend. It is recommended that oil plants actively sell insurance when they rebound, and mainly purchase downstream rigid demand.