SunSirs: The Price of Chinese Domestic Soybeans rose Overall in 2019
December 30 2019 10:10:48 SunSirs (Molly)
The price of domestic soybeans rose overall in December, according to a SunSirs' report. At the beginning of the month, the average price of domestic soybean in main producing areas is $506.45/ton. At the end of the month, the average price of domestic soybean in main producing areas was $511.16 /ton, up 0.94%.
Analysis: in December, domestic soybean prices ended the downturn and then began to increase. The main reason is that the acquisition subject is optimistic about the future market, so it has increased the acquisition efforts. The price of national storage warehouses was raised from $0.497/kg to $0.509/kg, and the mainstream price of domestic soybeans was around $0.514/kg.
Main producing areas: Heilongjiang, Suihua, new season soybean gross grain price of $o.5/kg, commodity beans quoted price of $0.514-$0.528/kg, price slightly increased. Mudanjiang new season gross grain price is $0.5/kg, net grain $0.514/kg. Qiqihar new season gross grain price is $0.486-$0.514/kg.
Sales area: Shandong mainstream purchase price is $0.567/kg and the delivery price is $0.714/kg, mainly stable price. In Henan Anhui and other places, the mainstream price is $0.614-$0.629 /kg, the price rose. The buying and selling situation of the market is ordinary, and the situation of traders selling goods is also very ordinary.
Data: Brazilian soybean exports reached 2.5 million tons in the first three weeks of December 2019, up 23 % month-on-month, according to the Brazilian foreign trade ministry.
Outlook for future market: SunSirs’ beans analyst Bing Li thinks: close to the Spring Festival, the main production areas of domestic soybean purchases and sales basically ended. After-market price of the domestic soybean will hold steady mainly, which means it is difficult to have a large fluctuation space.
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