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SunSirs: Negative Pressure, China's Soybeans Weakened in June
June 29 2021 08:27:46SunSirs(Linda)

Since June, negative factors have struck, terminal demand is not good, and domestic soybean prices have been falling all the way, falling endlessly. At the beginning of the month, the average domestic soybean market price was 5,700 yuan/ton, and at the end of the month, the average domestic soybean market price was 5,600 yuan/ton, and the price dropped by 1.75%. 

In April 2021, domestic soybeans continued the weak market at the end of March, and the price has fallen to about 2.8 yuan/kg. After May Day, the domestic soybean market remained stable. On the 11th, China National Grain Reserves released an announcement that domestic soybeans returned to the rising market. The market rebounded. The soybean market began to weaken at the end of the month. Starting in June, the terminal demand for soybean products Poor, the State Reserve's purchase price was lowered, and domestic soybeans continued to decline, with a drop of nearly 2%.

Multiple negative factors suppress 6 domestic soybeans continue to fall

Beginning in June, several warehouses directly under China Grain Storage have successively lowered the purchase price of domestic soybeans. The purchase price of the warehouse directly under Bei'an has been lowered from 2.89 yuan/jin to 2.875 yuan/jin; the warehouse directly under Suileng has been lowered from 2.9 yuan/jin to 2.875 yuan/jin; The Nehe National Grain Reserve was reduced from 2.945 yuan/jin to 2.935 yuan/jin. In addition, the domestic soybean terminal has entered the off-season for consumption, and the State Treasury has lowered the purchase price, which has led to cautious purchases of soybeans in the market. The mainstream price of commodity beans is 2.8 yuan/kg, and the mainstream price of gross grains is 2.73-2.75 yuan/kg.

As July is approaching, terminal soybean products are still in the off-season for consumption. If the State Reserve soybeans start auctions, market supply pressure will increase, and domestic soybean prices will remain weak in the future.

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