The planting weather in the north is getting better, and the beans continue to fluctuate in a narrow range.

The trend of meal and oil during the day yesterday was baffling, especially yesterday when the position of meal fell after rising in the morning, but after the close, we saw a sharp drop in the position of Xinhu, which was originally caused by the cutting of short positions that were always wrong this year. So under the influence of the good and falling weather last night, there is basically little room for soybean meal to rise in this position.

The sowing progress of soybeans in the United States announced early this morning was 96%, with a five-year average of 93%. The emergence rate of soybeans is 89%, with an average of 84% in five years, and the excellent and good rate of soybeans begins to improve gradually. But the regions with higher crop quality rates are Iowa, Ohio and North Dakota. Therefore, in the later stage, we still need to pay attention to the soybean cultivation in the north and the Midwest. Yesterday, when there was a large area of precipitation in Michigan, Ohio and the Delta, the market found that the soil moisture had improved, so the American beans fell more before the close last night.

We expect the temperature to return to normal in the next five days, and there will continue to be precipitation in the central and western regions, especially in the northerly state of Iowa. the only thing to worry about is North Dakota, where the drought has been alleviated under a small area of rain. but there's still a chance of drought. At present, the market is divided on the weather, some believe that the soil moisture in most of the Midwest and the north is very low, resulting in the excellent and good rate is much lower than the same period last year, and last week's data did show that after continuous dryness, the underlying soil moisture in the north and Midwest is low. Therefore, in the short term, the market thinks that in the case of no continuous rainfall in the short term, whether the drought of Meidou can be fundamentally improved, and then increase the excellent and good rate value. This is also the fundamental reason why the current decline of Meidou is not smooth. But when the weather starts to improve and the excellent and good rate begins to pick up, the market will eventually give the direction.

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