Shouchuang Futures: Spot prices surge significantly, nearby two meal futures follow upward.

Affected by rising costs and concerns over soybean supply at the end of March, the soybean meal market has a strong bullish sentiment. The market repeatedly speculates on delays in Brazilian soybean arrivals and future supply restrictions. There are rumors of 3 million tons of reserves being sold in April, but the impact is limited. Upstream oil mills and traders continue to actively support prices, with mainstream quotes in East China for soybean meal rising to 3,400 yuan/ton and rapeseed meal rising to 2,700 yuan/ton. Driven by spot prices, the futures market surged significantly, with rapeseed meal in May once exceeding a 5% increase and soybean meal rising over 3%. However, near-month gains for both meals narrowed toward the end of trading. Overall, short-term market sentiment is exuberant, supported by cost factors, maintaining a generally bullish outlook. However, caution is needed regarding policy changes, and attention should be paid to the outcome of China-U.S. negotiations this weekend. (First Capital Futures)