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SunSirs: The Market Enters a Wait-and-See Period, and China's Domestic Soybean Market Weakens
September 23 2020 08:04:16SunSirs(Linda)

According to SunSirs monitoring: the price of domestic soybeans continued to fall in August, with prices falling by 2.35%. Entering September, the domestic soybean market has continued to be stable with relatively small fluctuations. As of September 22, the average domestic soybean market price was 5,110 yuan/ton, and the price had fallen by 2.73% from the beginning of August.

The market enters the wait-and-see period, and the domestic soybean market is weak

Demand for terminal soy products weakened in August, and the market has been falling mainly. Entering September, domestic soybean surplus grains are scarce, and new soybeans will be listed one after another at the end of the month. The market players are in a wait-and-see state, entering the market cautiously, and the domestic soybean market is stable. Due to the impact of the typhoon, agriculture in Heilongjiang, the main producing area, has been severely affected. Farmers have hoped that the new season soybeans will be opened for weighing prices. On September 21, China Grain Storage and Oils Co., Ltd. made a special purchase, the top price was 4,100 yuan/ton, and all the purchases were unsold.

SunSirs agricultural products analysts believe that the new season soybeans will be listed one after another, and China Grain's purchases are all unsuccessful. The opening price of the new season soybeans will not be less than 1.9 yuan/kg. support@sunsirs.com

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

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