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SunSirs: Auctions of Temporary Storage Soybean are Popular, Price Rise is Expected
June 19 2020 08:59:00SunSirs(Linda)

According to SunSirs monitoring data, the price of Chinese soybeans in the first half of 2020 is booming. The price has been rising sharply since March, and has gradually stabilized in May. In June, the overall price remained stable and the price rose 34.76%. From June 12, the temporary storage of soybeans entered the market one after another, and the auction transaction was hot. The second auction on the 19th started. Due to the relatively small amount of temporary storage auctions, the impact on the market is relatively limited.

Temporary auction sales are hot, all premium transactions

On June 12th, China Storage Grain and Oil Co., Ltd. began to auction soybeans at 10 o'clock. The auction volume was 60,486 tons, all of which were sold at a premium. The base price was 4,800 yuan/ton, the average transaction price was 5,126 yuan/ton, and the highest transaction price was 5,270 yuan/ton.

The specific transaction price: Kang Jincu 5,150-5,200 yuan/ton, Huanan 5,140 yuan/ton, Kedong 5,170 yuan/ton, Jiusan 5,250 yuan/ton, Morgen 5,270 yuan/ton, the average price is 5,216 yuan/ton. The launch of this year's 2017 production of Chinesse soybeans, a total of 60,486 tons, the target storage is distributed in Harbin, Jiamusi, Qiqihar, Heihe.

Sinograin continues soybean auction, auction volume is still limited

On June 16, the official website of China Grain Storage issued an announcement that soybeans will be auctioned at 10:00 am on June 19, with a production period of 2017 and a quantity of 47,570 tons. Target storage distribution: Bayan, Elunchun, Hulunbeier.

SunSirs agricultural product analysts believe that at present, domestic soybean surplus grains in the main production areas are less, and the new season soybeans are in the growing period, and it still takes more than 4 months to go to market.

On June 12, all of the temporary storage soybean auctions were sold at a premium, with an average transaction price of more than 5,200 yuan/ton, which was more than 100 yuan/ton higher than market expectations. On June 19, the temporary storage of soybean auctions was still small, only 47,570 tons, it is expected that the auction transaction will still be hot, which will aggravate the traders' reluctance to sell. It is expected that the domestic soybeans in the market will continue to rise easily but not fall.

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