# SunSirs: Soybean Meal Market Strengthened in August, Overall Price Rose by 2.27%

> Chinese soybean meal averaged RMB 3,715 per tonne at the end of August, up 2.27% from RMB 3,632 at the start of the month. The rise followed a bullish USDA report and strong purchases of US soybeans by Chinese buyers, despite earlier corrections from high port stocks.

- Date: 2021-08-31 · published 2021-08-31T12:00:00.000Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/45648-sunsirs-soybean-meal-market-strengthened-in-august-overall-price-rose-by-2-27
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Higher Chinese meal prices reflect firmer import demand for US soybeans, supporting global soymeal and soybean values, though weak terminal demand limits the rally.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- USDCNY: neutral

## Sources

- sunsirs.com: https://www.sunsirs.com/commodity-news/petail-5578.html

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