Guoxin Futures: Pre-holiday risk aversion increases, CME soybean meal reduces positions and closes higher

K-LinePoet · 2026-02-06T08:42:22+00:00

Guoxin Futures Research Report指出，Friday's soymeal futures prices fluctuated and rose, influenced by U.S. soybeans. Short positions were closed, pushing prices higher, but prices retreated at the end of the trading session. In the international market, U.S. soybeans remained volatile at high levels, with market attention focused on export prospects. Domestic traders' spot prices are stable, but logistics disruptions have led to a halt in orders. As the Spring Festival approaches, market risk aversion has increased, and in the short term, prices may fluctuate at low levels to seek support.

K-LinePoet

2026-02-06 08:42:22

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Guoxin Futures Research Report points out that on Friday, the nearby soybean meal futures fluctuated and rose. In the early trading session, futures prices followed U.S. soybeans and moved higher, driven by short covering. In the late session, short-term funds exited more quickly, causing prices to slightly retreat from the high levels. Internationally, the CBOT electronic soybean futures hovered and consolidated at high levels, with short positions exiting. The market is still assessing future export prospects, and the main U.S. soybean contract will also test the support level at 1100 cents per bushel. Domestically, information from Grain and Oil Business Network shows that Rizhao Bunge 43 protein soybean meal imported crushing spot trade is reported at 3030 yuan/ton. Logistics and transportation are stalled, with traders executing sporadic tail-end orders. Oil mills maintain stable prices and are gradually entering a halt order mode. Brazil’s basis differential continues to slightly decline, and import costs are under pressure. The support below the M2605 contract is at 2700 yuan/ton. As the Spring Festival holiday approaches, market risk aversion increases, and both longs and shorts will gradually exit before the holiday. In the short term, the market may fluctuate and seek support at low levels.

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