CBOT US bean futures closed higher on Tuesday.Arcade2000To follow the rise in the wheat market. Overnight rapeseed meal 2409 contract closed up-0Arcade2000.04%. Brazil has a good price advantage in soybeans, and the peak export season is coming to squeeze the share of American soybean exports. In addition, the good weather for soybeans growing in the United States also puts pressure on the market, and the price of American beans continues to be under pressure. However, spurred by supply concerns caused by low temperatures, rain and snow in Europe, rapeseed rebounded sharply, adding to the continued strength of Brazilian soybean discounts, boosting the US bean market and driving domestic meal prices. As far as the domestic market is concerned, the operating rate of oil plants remains high and the pressure on the output of rapeseed meal remains. However, as the temperature rebounded, aquaculture gradually started, and the demand for rigidity improved. As far as the soybean meal market is concerned, with the end of the soybean harvest in Brazil, the soybean arrival volume in Hong Kong has increased recently, and the market supply has gradually loosened, and the soybean arrival volume in May and June may exceed 10 million tons, resulting in a significant increase in supply-side pressure, limiting the market price of soybean meal. From a disk point of view, boosted by American beans, rapeseed meal closed higher overnight, mainly short-term participation.
Researcher: Cai Yuehui
Futures qualification number: F0251444
Futures investment consulting certificate number: 20013101
Assistant researcher: Li Qiurong
Futures qualification number: F03101823
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