According to the information provided in the analytical report by SunSirs China, since the end of May this year, we have been witnessing an increase in soybean imports to China, while market trends indicate a downward trend. In the month of May, the price of soybean meal in the Chinese market decreased by more than 14%, and starting from June of this year, there is an additional price drop of 2.75%.
As of June 5, soybean meal was trading at an average price of 2900 yuan per ton, which is 100 yuan lower than at the end of May, and over the last week, the price of the product has decreased by approximately 3%.
Experts predict that by the end of June, the supply of raw soybeans will remain at a satisfactory level, soybean oil production capacities will be operating at maximum capacity, however, demand from end consumers will be low, which supports the downward trend in the soybean meal market.
In Russia, according to analysts at OleoScope, there has been a significant decrease in soybean meal prices over the past three months to 43.1 thousand rubles per ton. Against the backdrop of the previous season's record harvest and processing levels, the price of this product has decreased by approximately 3 thousand rubles per ton. The cost of soybeans has also declined by 6.6% over the three-month period, reflecting global trends towards record-breaking yields.