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SunSirs: Farmers are Reluctant to Sell, and Chinese Domestic Soybeans Continue to Rise
November 23 2020 09:25:52SunSirs(Linda)

According to the monitoring of SunSirs: Since November, the domestic soybeans of the new season have been fully listed, and the prices are still strong and continue to rise. As of November 20, the average domestic soybean market price was 4,740 yuan/ton, and the price rose 3.04%.

Farmers are reluctant to sell, domestic soybean prices continue to rise

Since November, the domestic soybeans of the new season have been fully listed. This year, the new soybeans have been on the scale at 2.1 yuan/kg. After they are fully listed, the price has continued to rise. Mainly because this year's main producing areas were affected by the typhoon, the harvesting progress was delayed, and farmers were reluctant to sell at high prices. The rigid demand for terminal soy products increased. As of the 20th, soybean gross grains in the main producing areas of Heilongjiang had been 2.4-2.5 yuan/kg. Commodity beans have exceeded 2.6 yuan/jin. As the price of domestic soybeans continues to rise, the purchasers are cautious in entering the market. At present, the domestic soybean market is quiet for purchase and sales, and the transaction volume is falling.

SunSirs agricultural product analysts believe that in late November, the purchase and sale of domestic soybeans entered a deadlock, and the market for high-priced soybeans is less recognized, and the market outlook may stabilize prices.

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