CITIC Construction Investment Futures: The Netherlands issues GMO event detection warning for Argentine soybean meal, CBOT soybean meal surges significantly

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The Netherlands recently issued multiple unapproved GMO event detection alerts for Argentine soybean meal, which the market interprets as a risk of cargo being returned. Overnight, CBOT soybean meal surged, with U.S. soybeans following the rally. In the short term, the overseas market is awaiting progress on Trump’s visit to China and guidance from the May USDA report. As of April 26, U.S. soybean planting reached 23%, faster than 17% at the same time last year and the five-year average of 12%. The WorIdAgWeather forecast shows that most key producing areas will experience below-average rainfall in the coming week, which is favorable for accelerating planting but may also increase the risk of drought development in the plains. There are no new conflicts in soybean meal, and in the short term, it will mainly follow U.S. market fluctuations, with expected wide-range sideways movement. (CITIC Construction Investment Futures)

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