The cost of imported soybeans rose more difficult in May, and M2409 recommends caution

Gold ten futures April 30th news, with the increase in soybean supply from oil plants, soybean meal supply pressure increases. Data show that in May 2024, 125 oil plants in major regions of China are expected to arrive at the port 138.5 ships of soybeans, a total of about 9.0025 million tons (this month's ship weight is 65,000 tons). Oil plant crushing is expected to be 8.58 million tons. In this context, although the demand for soybean meal is expected to improve month-on-month, the soybean meal inventory of oil plants will still rise rapidly, and the spot basis of soybean meal will not be suppressed. It is expected that the cost of imported soybeans in May will rise more difficult, and the probability of shock or slightly weak operation is large. Therefore, M2409 futures price trading is waiting for the arrival of the resonance time of CBOT soybeans on the external market. It is recommended to be cautious.