# SunSirs: Negative Pressure, China Soybean Meal Market is Weak and Bottoming Out in October

> China's soybean meal market declined over 5% in October, with the average price falling from 3,186 to 3,002 RMB per ton. Soybean imports were 11.37 million tons in September, up 59% year on year. Inventories have stayed around 1 million tons, and US record soybean output weighed on futures.

- Date: 2024-10-31 · published 2024-10-31T12:00:00.000Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/27992-sunsirs-negative-pressure-china-soybean-meal-market-is-weak-and-bottoming-out
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Ample imported soybean supply and weak futures keep Chinese meal prices under pressure. Demand for imported meal is therefore less supportive of global prices.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Sources

- sunsirs.com: https://www.sunsirs.com/commodity-news/petail-21086.html

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