# SunSirs: Supported by Multiple Benefits, China Soybean Meal Market reached a New High

> China's soybean meal market rose about 15% from June 1 to July 20, from 3,770 to 4,342 RMB/ton, reaching new highs. Soybean meal inventories fell to around 520,000 tons by mid-July after an earlier peak of 710,000 tons in late June. Imports rose 13.6% year on year in the first half of 2023, which eased tightness.

- Date: 2023-07-24 · published 2023-07-24T12:00:00.000Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/35112-sunsirs-supported-by-multiple-benefits-china-soybean-meal-market-reached-a-new
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Tightening domestic meal stocks support Chinese soymeal prices, while record imports cap the rally. Feed buyers should expect firm meal prices in China with limited downside while inventories stay low.

## Read by commodity

- SBM: bullish ▲
- SOY: neutral

## Sources

- sunsirs.com: https://www.sunsirs.com/commodity-news/petail-13757.html

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