Shouchuang Futures: Cost rebounds, soybean meal fluctuates mildly strong

Today, domestic soybean meal prices continued their second consecutive day of rebound, supported by increased import costs for soybeans overnight. Overnight, U.S. soybeans rose over 1%, mainly driven by nearly 3% gains in U.S. soybean meal. Market news shows that due to compliance issues with genetically modified varieties, the Netherlands rejected a shipment of Argentine soybean meal, prompting EU buyers to urgently seek U.S. Gulf soybean meal, causing a sharp increase in soybean meal prices in the U.S. Meanwhile, overnight South American soybean basis remained stable, and import soybean costs followed U.S. soybeans higher. Additionally, weekly domestic data indicated that last week, domestic soybean meal inventories were being depleted, and short-term soybean meal supply continues to tighten. Overall, cost factors provide short-term momentum for a rebound, but sustainability is limited. Currently, U.S. soybean planting is proceeding smoothly, and international arrivals are about to increase significantly. Soybean meal remains primarily in a volatile trading mindset, and a strategy of buying on dips and selling on rallies is recommended. (First Capital Futures)