On April 27, the soybean commodity index stood at 119.05, unchanged from the previous day, hitting a record high in the cycle and up 33.08% from its low of 89.46 on November 12, 2019 (Note: Period refers to 2011-Septmbver-01 till now).

In April, domestic soybean continued to continue the crazy market in March, and prices continue to go up. Heilongjiang area domestic soybean loading price even rose to 2.7 yuan/kg. The average price of domestic soybean at the beginning of the month was 4,400 yuan/ton. On April 26, the average price of domestic soybean was 4,666 yuan/ton. The price rose by 6.06%, more than 30% higher than that at the beginning of the year.

Market Analysis 

In April, the main production area of Heilongjiang province had few circulating beans, so the purchase of national storage and storage prompted the price of beans to rise, farmers ran out of surplus grain, and traders were reluctant to sell. 

Soybean prices continued to rise, with the gross grain price at 2.2-2.3 yuan/kg, commodity beans at 2.5-2.6 yuan/kg, and some soybean loading prices at 2.65-2.7 yuan/kg. As soybean prices have been rising, the market grain source is limited, the trader acquisition cost is high, the market speculation atmosphere is heavy, and most of the state of no market price. Due to the shortage of grain, domestic soybean prices remained high and continued to rise throughout April.

Futures: On April 27, Lian Soybean futures main a2009 contract, opened 4651 yuan, closed 4624 yuan, down 13 yuan, the highest 4671 yuan, the lowest 4594 yuan, yesterday closed 4637 yuan, the settlement price of 4626 yuan.

Data: U.S. net soybean export sales for the week ended April 16 were 344,900 tons this year and 500 tons next year. During the week, the United States shipped 528,600 tons of soybeans this year.

Market Forecast: SunSirs agricultural products analyst Li Bing think that after May Day, the market basically left little soybean, market rumor country soybean auction into the market, and the price of domestic soybean is expected to fall.

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