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How many times did soybean meal fall?
Three times.

Soybean meal led the decline in soybean oil today. The M 1305 contract opened at 3358 yuan/ton in early trading due to the continuous sharp decline of soybean electronic disk. After more than half an hour's struggle, soybean meal 1305 took the lead in daily limit, and then it was tightly sealed on the daily limit board, and closed at 3,224 yuan/ton in late trading, down 134 yuan/ton, down 4%. 130 1 The contract stopped at 3596 yuan/ton almost at the same time, down 149 yuan/ton. The trading volume is affected by the daily limit and distorted today. The main contract position of 05 decreased by 6,543.8+0.6 million to 6,543.8+0.24 million, and the contract position of 065.438+0 decreased by 69,000 to 6,543.8+0.27 million.

Market analysis:

Last Friday, the US Department of Agriculture reported that the supply and demand of soybeans were negative, and the output of soybeans in the new season increased by 3 million tons, and the structural imbalance of soybeans in the new season in South America was basically eliminated. On June 5438+ 10, the futures price of US soybeans dropped sharply from 1500 cents/pu to 1430 cents/pu, and the US soybean index fell below the annual support line. Once the expectation of structural imbalance in the international soybean market disappears, the supply and demand in the soybean market will quickly turn from tight to loose under the background of increasing production in South America. In June and July, the leading varieties of soybean meal have also become the leading varieties today, which may indicate the end of the current bull market of beans, and the future bean contract will officially enter the South American cycle.