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SunSirs: Under the Dominance of Bad News, Domestic Soybeans Were Running Weakly
April 18 2022 09:25:28SunSirs(John)

Price trend

According to the monitoring data of the SunSirs, since April, the domestic soybean market continued to run weakly, and the price fell weakly. As of April 15, the average domestic soybean market price was 6,040 RMB/ton, down 0.13% from the beginning of the month.

Analysis review

Since April, the supply of new season soybeans in the main producing areas has been tight, and the auction of soybeans from the state reserve has continued to limit the domestic soybean market to a certain extent. Affected by the epidemic, logistics was limited, demand for soy products was sluggish, and traders in production areas were mainly at high prices. The mainstream price of domestic soybeans was 2.95-3 RMB/catties. The market transaction was average, and the purchase and sales were deserted.

Market outlook

The agricultural product analyst of the SunSirs believes that in the short term, the negative factors will dominate, and the domestic soybean market will still be weak.

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