Galaxy Futures: Supply Pressure Increases, Soybean Meal and Rapeseed Meal Prices Fluctuate in the Market

The overall changes in the U.S. soybean and international soybean markets are relatively limited. Influenced by a sharp rise in international crude oil prices, U.S. soybeans have shown some upward momentum. The old crop market has ample supply, but the pressure response is also quite sufficient, so the downside space is limited. The new crop is relatively tight, and overall it may remain somewhat strong in the future. In the short term, domestic fundamentals lack bullish support, and soybean supply is gradually recovering. It is expected that the overall pressure on soybean meal will still exist. Rapeseed meal mainly follows soybean meal price movements; near-term demand is relatively average, supply is basically sufficient, but overall inventory remains low. (Galaxy Futures)