Beans: South America rose and the discount rose, and even the meal fluctuated and rose

Gold ten futures on April 15th news, Monday even meal shock closed up, the price continued strong night trading, the United States beans have begun to sow, good weather is conducive to sowing. Recently, Brazil, Argentina soybean rise discount rebounded, the market expects USDA to have the possibility of overestimation of Brazilian soybeans. Short-term CBOT soybean market long and short factors staggered, the market weak volatility continued. The recent trend of even meal market is significantly stronger than the spot, on the one hand, due to the rise of discount higher cost pull is obvious, on the other hand, the weakness of oil caused by the early oil meal arbitrage position squaring also supported even meal. Relatively speaking, with the increase in domestic soybean supply, soybean meal supply pressure has led to pressure on domestic soybean meal spot and basis. Market futures are strong, spot is weak, and the pattern of weak in recent months and strong in distant months will continue. The main M2409 contract is facing resistance at the 3400 line. If it cannot break through, the market will maintain a wide range of fluctuations.