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The domestic soybean meal price is expected to have limited decline; soybean oil follows crude oil price trends.
Recently, domestic pig farming losses have continued, and downstream feed demand remains weak. It is expected that in the short term, soybean meal market consumption will not show significant improvement. However, in April, oil mills will undergo concentrated shutdowns and maintenance, leading to a decrease in soybean meal output, which supports prices at the bottom. The situation in the Middle East is complex and volatile, with international oil prices fluctuating frequently. It is expected that in the near future, domestic soybean oil prices will mainly follow the trend of international crude oil prices. (National Grain and Oil Information Center)