The downward momentum of soybean meal has weakened, with short-term or weak shocks

Golden Ten Futures, July 22nd, the fundamentals of supply and demand in the domestic market of soybean meal have not changed, and the spot price fluctuates with the plate. Pressure on the supply side still exists, and some soybean crushing enterprises reduce production or shut down due to inventory factors. The demand side remains on the sidelines. In addition, the weather in some regions also affects the willingness to receive downstream goods. Overall, the domestic supply and demand pattern remains loose, and there is insufficient support for the spot price of soybean meal. From an international perspective, American beans maintain high yield expectations, but Brazilian farmers are reluctant to sell them. Soybean prices have risen and discounted, and the comprehensive impact is neutral. With the digestion of the bearish, the downward momentum of soybean meal has weakened, and the short-term or weak shock.