News summary
Newsletter text
[Lianmei market shows a high level of shock]
On May 20, Lianmei ended the trading day with high shocks, and the market remained stable during night tradingbingositeswithfreesignupbonusnodepositrequiredThere were slight fluctuations, and both sides with short short-term funds withdrew one after another.
In the international market, soybean futures prices on the Chicago Board of Trade (CBOT) showed a narrow range of fluctuations, with prices rising and falling slightly near last Friday's high. The market was affected by the combination of long and short forces. Despite the uncertainty of Brazil's weather, production expectations are still abundant, while U.S. soybean planting has encountered obstacles and the export situation is weak. It is expected that the market will continue to maintain a range volatility pattern in the short term.
In the domestic market, domestic soybean meal spot prices increased slightly, with some brands increasing by 10-20 yuan/ton compared with the previous day. The price of 43% protein soybean meal provided by the Qinhuangdao factory is 3480 yuan/ton. The market is worried that floods in ports in southern Brazil will hinder logistics, affecting the arrival of domestically imported soybeans from June to July. The downward trend in basis is expected to slow down. Overall, the trend of the Lianmei market remains strong, and it is recommended that market participants adopt a pullback buying strategy.
