# Soybean Meal on the Outer Market Has a Strong New High, and the Market for Soybean Meal on the Inner Market has Followed up

> Dalian soybean meal futures January contract closed at 3153, up 80, after opening sharply higher on Friday. The move followed a strong rise in US soybean meal and a US September supply and demand report that was largely in line with expectations. China is accelerating purchases of US soybeans.

- Date: 2020-09-21 · published 2020-09-21T12:00:00.000Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/12152-soybean-meal-on-the-outer-market-has-a-strong-new-high-and-the-market-for
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Higher US soymeal and Chinese buying support domestic meal prices and the global protein complex. Traders will watch fund positioning and US-China trade relations for further direction.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2020-09-18 | 5 | +6.7% | 2.9 | Dalian meal made new highs following a strong rise in US meal, showing the move was global and demand-driven by Chinese purchases. |

## Sources

- sunsirs.com: https://www.sunsirs.com/commodity-news/petail-3360.html

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.