Soybean meal inventory at low levels supports the rebound of the spot market; it is expected to continue maintaining a slight fluctuation and consolidation trend in the future.

Supported by long profit-taking liquidations and technical selling pressure, CBOT soybean futures closed lower, with the benchmark contract down 1%. Oilseed crushing at oil mills remains relatively low, and soybean meal continues its drawdown pace. The rebound in U.S. soybean prices has increased import soybean costs, and recently, as terminal procurement has increased, oil mills’ soybean meal production remains limited, with inventories continuing to stay low, boosting oil mills’ price support motivation, leading to a rebound in the spot market. However, as the volume of imported soybeans arriving increases in the future, soybean meal production will rise. Currently, during the off-season for demand and with ongoing losses in pig and poultry farming, demand remains limited, and soybean meal continues to fluctuate slightly in a narrow range. (Feed Industry Information Network)