SunSirs--China Commodity Data Group

Sign In

Join Now

Contact Us

Home > Soybean News > News Detail
Soybean News
SunSirs: China's Domestic Soybean Prices Declined Weakly in August
August 31 2020 08:14:43SunSirs(Linda)

According to the monitoring of SunSirs, domestic soybean prices continued to decline in August, the demand for terminal soybean products weakened, and the State Reserve soybean auction sales declined. At the beginning of August, the average price of domestic soybeans was 5,253 yuan/ton, and at the end of the month, the average price of domestic soybeans was 5,130 yuan/ton, a drop of 2.35%.

State Reserve auction sales are cold, soybean market weakens

In August, the State Reserve Soybean auctions were held for 5 times. All the first auctions on the 13th failed. The transaction rate of the next four auctions was only about 50%. The highest transaction price was also 4,600-4,800 yuan/ton. Compared with the soybean transaction rate, the volume and price fell sharply.

The decline in soybean transactions in the State Reserve is mainly due to the weakening of demand for soybean products in August and the decline in the acceptance of high-priced soybeans by terminal manufacturers. In addition, as September is approaching, the new season soybeans will be launched soon, and the old and new soybeans will alternate. The market expects that domestic soybean prices will weaken. the Lord. Domestic soybean prices rose sluggishly, mainly hitting the bottom, and prices in the main producing areas fell to around 2.5-2.55 yuan/500 g.

SunSirs agricultural product analysts believe that the new season soybeans are expected to be listed in the end of September. The State Reserve soybeans are currently auctioned more frequently and the market supply is loose. The domestic soybean market will continue to be weak and the price rise will be under pressure.

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

Exchange Rate:

8 Industries
Energy
Chemical
Rubber & Plastics
Textile
Non-ferrous Metals
Steel
Building Materials
Agricultural & Sideline Products