# SunSirs: Supported by Favorable Factors, the Soybean Meal Market Continued to Rise

> China's average soybean meal price rose 14.98% to 4,400 RMB/ton after May Day, compared with 3,844 RMB/ton at the start of April. Slow customs clearance of imported soybeans cut crushing rates at some plants, and meal inventories fell to about 200,000 tons from nearly 600,000 tons in the first quarter.

- Date: 2023-05-09 · published 2023-05-09T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/36012-sunsirs-supported-by-favorable-factors-the-soybean-meal-market-continued-to-rise
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Tight domestic meal supply in China lifts regional meal prices and raises import demand for soybeans, supporting Chinese meal costs for feed buyers.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2021-03-22 | [EU soybean meal imports continue to fall amid tight S American supplies: sources](https://feedsoft.ai/events/48199-eu-soybean-meal-imports-continue-to-fall-amid-tight-s-american-supplies-sources.md) | -1.1% | -0.5% |
| SBM | 2016-04-18 | [Indian soybean meal on the world market too expensive](https://feedsoft.ai/events/10299-indian-soybean-meal-on-the-world-market-too-expensive.md) | +5.3% | +22.0% |
| SBM | 2021-10-28 | [What The Inverted Market Means if You’re Buying Argentina Soybean Right Now?](https://feedsoft.ai/events/44398-what-the-inverted-market-means-if-you-re-buying-argentina-soybean-right-now.md) | +2.6% | +6.2% |
| SBM | 2023-02-16 | [Ukraine continues to export sunseed and soybeans at high rates](https://feedsoft.ai/events/37434-ukraine-continues-to-export-sunseed-and-soybeans-at-high-rates.md) | +0.0% | -2.9% |
| SBM | 2020-08-13 | [Soybean Demand Offers Hope for the Market \| Red River Farm Network](https://feedsoft.ai/events/11345-soybean-demand-offers-hope-for-the-market-red-river-farm-network.md) | +4.8% | +10.2% |
| SOY | 2022-08-18 | [New marketing year points to favorable soybean export volumes to China](https://feedsoft.ai/events/14908-new-marketing-year-points-to-favorable-soybean-export-volumes-to-china.md) | +5.8% | -1.6% |
| SOY | 2020-08-13 | [Soybean Demand Offers Hope for the Market \| Red River Farm Network](https://feedsoft.ai/events/11345-soybean-demand-offers-hope-for-the-market-red-river-farm-network.md) | +2.5% | +10.6% |
| SOY | 2017-09-13 | [Soybeans supported by new export sale to China - Brownfield Ag News](https://feedsoft.ai/events/68860-soybeans-supported-by-new-export-sale-to-china-brownfield-ag-news.md) | +2.3% | +2.3% |

## Sources

- sunsirs.com: https://www.sunsirs.com/commodity-news/petail-12460.html

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