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China Soybean and Relatives Daily:Weekly soybean and soybean meal inventory decline in sync support domestic meal's price

Source: Mysteel Jan 20, 2026 14:24
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Soybean Soybean Meal Demand Price Supply
In the domestic soymeal market, trading remained weak on Tuesday, with the benchmark Dalian soymeal contract M05 closing down 0.48% at Yuan 2,715/tonne. The absence of guidance from overseas markets left domestic trading driven by local supply and demand fundamentals. Although spot market sentiment remained generally supportive of firm prices, supply pressure remains significant. Notably, the improvement in China-Canada economic and trade relations has led market participants to anticipate a potential increase in future rapeseed and rapemeal supplies, exerting additional pressure on soymeal market sentiment. Domestic rapemeal futures have already experienced consecutive sharp declines. The prospect of Brazil's record soybean harvest and accelerating harvest progress further reinforces expectations of ample supply in the longer term. Overall, in the absence of overseas market support and with persistent domestic supply pressure, the Dalian soymeal contract M05 is expected to remain unde

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