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[Lianmei market shows a high level of shock]

May 20creativearcadesThe trading day ended with a high shock. The market maintained a small fluctuation during the night trading period, and both sides with long and short short-term funds withdrew one after another.

In the international market, the soybean futures price on the Chicago Board of Trade (CBOT) showed a narrow range of fluctuations, with prices rising and falling slightly near the high last Friday, and the market was affected by long-short forcescreativearcadescommon impact. 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.