Soybean meal is influenced by both external beans and internal beans, but which one is more influential needs to be analyzed according to the specific situation.

First of all, the price of soybean meal is affected by the relationship between supply and demand of soybean meal in the international market, the exchange rate of US dollar, international trade policy and other factors. These factors will directly affect the international soybean meal price, thus affecting the domestic soybean meal price.

Secondly, the domestic soybean meal price is also affected by domestic soybean supply and demand. If the domestic supply of beans is sufficient, the price of soybean meal will be suppressed; On the contrary, if the supply of beans is tight, the price of soybean meal will rise accordingly.

Generally speaking, the price of soybean meal is influenced by many factors, including the relationship between supply and demand in international and domestic markets, exchange rate, trade policy, domestic bean supply and so on. Investors need to pay close attention to the changes of these factors in order to grasp the changing trend of soybean meal prices.