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SunSirs: Temporary Reserve Soybean Premium Deal, Chinesae Soybean Price Soared again
July 06 2020 09:40:21SunSirs(Linda)

According to SunSirs monitoring, starting June 12, China Storage Cereals and Oils Co., Ltd. opened a temporary storage soybean auction. As of July 3, there have been five rounds of auctions, all of which have been sold at a premium, and the transaction price remains high, up to about 5,500 yuan/ton. Chinese soybeans continue to rise. In early June, the average Chinese soybean market price was 4,820 yuan/ton. On the 3rd, the average Chinese soybean market price was 5,300 yuan/ton, with a price increase of 9.96%.

According to the monthly soybean price chart from 2019 to June 2020, the soybean price increase and decrease in 2019 is small. The Chinese soybean growth rate in the first half of 2020 is staggering, and the overall float has been rising for 6 months, the highest in March. The increase exceeded 20%.

This year's surge in domestic soybeans was mainly driven by demand and increased logistics and transportation costs. Soybeans skyrocketed in March. After May, the new season soybean planting period will be available in October. In addition, in 2019, there is less soybean surplus grain, and the price has begun to stabilize. By June, the temporary storage soybean auction went on sale, and the transaction price exceeded 5,500 yuan/ton. Chinese soybeans rose again, rising successively. In July, they have risen more than 9%.

Temporary soybean transaction price hits record high, spurs domestic soybeans to rise

On July 3, China Storage Cereals and Oils Co., Ltd.’s temporary storage of soybeans has conducted five auctions, all of which have been sold at a premium. The base price has also increased from 4,800 yuan/ton to 4,900 yuan/ton, and the highest transaction price has increased from 5,270 yuan/ton to 5,570 yuan/ Tons, rose by 300 yuan/ton. In the fourth auction on June 30, the transaction price reached as high as 5,570 yuan/ton, a record high. In the fifth auction on July 3, the transaction price was as high as 5,520 yuan/ton.

Because of the record high transaction prices of temporary storage soybeans, the scarcity of high-quality soybean sources in the main production areas, the rigid demand of terminal protein factories, and the high price of traders, the prices of domestic soybeans continue to rise, and the maximum price of loaded soybeans in Heilongjiang region rises to 5,600 yuan The price of gross grain is 5,300-5,400 yuan/ton, and the daily price increase is close to 100 yuan/ton, which is nearly 10% higher than that in early June.

SunSirs agricultural product analysts believe that the current soybean prices in the Heilongjiang production area are close to the ceiling, plus the fifth auction price has begun to fall, traders' enthusiasm has declined, and Chinese soybean market price space is limited, basically at this price, it may have a weak increase.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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