Agricultural futures fell across the board, soybean meal ETF (159985.SZ) fell sharply | Agricultural Futures_Sina Finance_Sina.com

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On June 23, affected by the news that agricultural product futures fell across the board, the soybean meal ETF fell sharply. As of press time, the soybean meal ETF (159985.SZ) fell by more than 5%.

Agricultural product futures fell across the board. Soybean meal and rapeseed meal both fell by more than 7%. In addition, other agricultural products also performed poorly, with soybeans, cotton, and oils all falling to varying degrees.

Xinhu Futures believes that the decline in soybean meal is more attributable to surrounding oils and systemic risks. Mapan palm oil has plummeted due to the policy change in Indonesia, and international crude oil prices have also fallen sharply, resulting in the US soybean contract in recent months from more than 1700. fall back quickly. At present, U.S. soybeans and Lianmei need to focus on systemic risks, including international and domestic. International risks are naturally derived from the expectation of the Fed to raise interest rates. At present, U.S. officials are very hawkish, and the economy may enter a recession cycle. The domestic risk stems from the uncertainty of the expected economic recovery after the gradual liberalization of epidemic control. Yesterday’s decline in domestic commodities across the board may also reflect this factor. The export sales of U.S. soybeans have been relatively strong recently. The export volume of U.S. farmers’ old crops has been increased by 30 million bushels. The old crop carry-over inventory and the new crop opening inventory have been reduced by the same amount. After the adjustment, the inventory-to-sales ratio of the old crop decreased from 5.25% to 4.55%, and the inventory-to-sales of the new crop The ratio has dropped from 6.77% to 6.11%. If there is no systemic risk and the current dry situation in the production area, the US soybean market will remain high and volatile. However, if systemic risks continue to ferment, US soybeans and even meal are likely to follow the general trend of commodities and fall.

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