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SunSirs: The Source of Soybean Was Scarce And Prices Are Still High
April 17 2020 08:30:05SunSirs(Daisy)

The soybean commodity index was at 117.01 on April 15, unchanged from the previous day, down 0.39% from the cycle high of 117.47 (2013-March-29) and up 30.80% from the low of 89.46 on November 12, 2019 (Note: Period refers to 2011-Spetmber-01 till now). 

Since April, domestic soybean prices continue to rise, prices continue to go up. By Monday, the average price of domestic soybean was 4,586 yuan/ton, up 4.24% from the beginning of the month.

Products: Heilongjiang soybean producing new season surplus grain shortage, basic less soybean farmers in the new season, the surplus mainly concentrated in the hands of traders. Due to the domestic soybean prices continue to rise, traders want to give priority to, soybean supplies market, domestic soybean prices all the way up, parts of the new season soybean loading 2.5 -2.6 yuan/kg price, price increasing by 0.2 -0.3 yuan/kg. Goods bean mainstream price was2.3- 2.4 yuan/kg, while gross bean price was 2.2 -2.3 yuan/jin, and prices continue to run high. 

As a result of bean source is scarce, the market is in have price basically have no city to give priority to, clinch a deal commonly.

Futures: On April 15, Dalian Soybean futures main a2009 contract high end, open 4552 yuan, closed 4718 yuan, up 196 yuan.

Data: China's soybean import volume in March 2020 was 4.278 million tons, and 17.792 million tons in January-March, up 6.2% compared with the same period last year.

Market Forecast: SunSirs agricultural products analyst Li Bing think that the weather is warm, vegetables and fruits on the market, and the demand for soy products fell. Plus, the country will be in the market, soybean prices have been high, and the commodity has limited space to rise.

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