Imported soybeans have arrived in Hong Kong one after another, and soybean meal supply pressure will continue to increase in the short term

Jinshi Futures, April 23rd, Baocheng Futures analysis pointed out that after mid-to-late April, imported soybeans arrived in Hong Kong one after another, and the domestic soybean meal supply is expected to improve significantly. All parties in the market remain highly concerned about the inflection point of soybean meal inventories. The operating rate of domestic oil plants has rebounded for three consecutive weeks, indicating that supply pressure will continue to increase in the short term. < b > In the later stage, pay attention to the pace of forward ship buying by oil plants and changes in the basis difference of soybean meal. The contradiction between market supply and demand will shift more to demand-driven, focusing on whether the increase in demand can digest the increase in production . The recent differences in the trend of soybean meal contracts in the near and far months reflect the market's differences in the game between reality and expectations. On the other hand, the market remains highly sensitive to the volatility of soybean meal prices in the future, and it is still necessary to pay close The short-term disk volatility has increased, and attention has been paid to the impact of the linkage of the current market and changes in the basis on the disk. The overall strength pattern has not changed, and the internal strength and external weakness continue.