July 12th, July and August are the key growing seasons for U.S. soybeans. Weather factors may continue to plague the market. Therefore, the possibility of the U.S. Department of Agriculture’s adjustment of U.S. soybean production and yield cannot be ruled out. Therefore, soybean meal is likely to rise but not fall in the short term.
The focus of rapeseed meal is the weather in foreign production areas. The EU rapeseed production has been slightly lowered, and Canadian production areas are generally dry, and the expected yield per unit area is biased.
Therefore, from the perspective of weather and yield, the external rapeseed futures price will still maintain a strong trend. As a result, domestic rapeseed meal remained strong.
Moreover, the fundamentals of rapeseed meal are better than those of soybean meal, and the supply is even tighter.
Therefore, although they are both doing long on dips, rapeseed meal can be given priority. The lower support of rapeseed meal 09 is around 3350-3400, and the lower support of soybean meal 09 is around 3800-3850.
