The decline in fats and oils in the soybean fat market slowed down Thursday, with pulses generally falling by more than 1%.

　　Following the announcement on the China Grain website to start importing imported soybeans next Tuesday, the soybean futures prices are generally under pressure to fall under the impact of the expected selling pressure. From the perspective of lower distribution, it is mainly connected to the import distribution center and the market of the sales area, which is helpful to the According to local digestion, the quantity of 300,000 tons is less than the consumption of domestic oil plants in a week, and the substantial impact on the market is relatively limited. It is the psychological changes that dominate price expectations.

　　Today, as the selling pressure on oil futures prices has eased, meal futures prices have fallen by more than 1%. As the weather situation in the production area has improved, and the latest inspection report shows that the number of soybean pods is higher than the same period last year, the influence of weather speculation on prices has diminished, and the market has begun to pay attention to whether the seasonal highs have emerged. We believe that weather changes are still an important factor affecting soybean yield, but the weight of the price will gradually pass market demand. At the same time, we need to pay attention to the changes in the weather situation at the beginning of soybean planting in South America, which means that the weather hype may gradually shift from the northern hemisphere to the southern hemisphere.

　　Under the dual influence of weather speculation and market demand, the pattern of US soybean futures prices tending to rise but not fall is still continuing. This means that support from the cost end of the domestic soybean market will continue to exist, which will also restrict the room for short-term meal price adjustments.

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