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SunSirs: Supply is Tight, Domestic Soybean Market Picks up
August 26 2021 08:25:01SunSirs(Linda)

Starting from August 10, the domestic soybean market rose steadily, and the market continued to heat up. On the 10th, the average market price of domestic soybeans was 5740 yuan/ton, and on the 25th, the average price of domestic soybeans was 5760 yuan/ton, an increase of 0.35%.

Tight supply, domestic soybean market heats up

Beginning in mid-August, the grassroots surplus grain in Heilongjiang, the main producing area, has bottomed out, and the supply is tight. The market is mainly based on the listing of Sinograin. The new season soybeans are in the growth period. The overall market purchase and sales are thin. Soybean futures oscillated and strengthened, which increased confidence in the domestic soybean market to a certain extent. In the main producing areas of Heilongjiang, the purchase price of soybean gross grains is around 2.76 yuan/jin, and commodity soybeans are 2.83-2.88 yuan/jin, with the prices rising mainly.

Due to the lack of market purchases and sales, the domestic soybean market will remain stable in the short term.

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