SunSirs: Agriculture, Soybean Oil Price Keeps Stable With The End of Year Approaching
January 17 2020 08:44:13 SunSirs (Daisy)
The soybean product index on January 16 was 91.67, which was the same as yesterday, which was a decrease of 21.96% from the highest point of the cycle at 117.47 (2013-March-29), which was a 2.47% increase from the lowest point of November 12, 2019, at 89.46. (Note: Period refers to 2011-September-01 to present).
The national soybean price remained stable this week. Up to January 16, the average national soybean market price was 3,593 RMB / ton, and the price was flat.
Product aspect, After New Year's Day, national soybean prices in the main producing areas ushered in a small wave of rise. After the rally, the price continued to stabilize, and mainstream prices are still around 3.6-3.7 RMB per kg. The Spring Festival is approaching. And the market purchases and sales basically stopped. National soybean prices in the main producing area of Heilongjiang did not fluctuate.
Sales area aspect, the mainstream purchase price in Shandong is 4-4.6 RMB / kg, and the price is flat. In areas such as Anhui and Henan, the mainstream price is 4.3-4.6 RMB per kg, and the market price remains unchanged. The market purchases and sales are nearing completion.
Data aspect, according to the USDA, Brazil's soybean production in 2019/20 is expected to reach a record 123 million tons, consistent with last month's forecast, and an increase of 6 million tons or 5% over the previous year.
Li Bing, an agricultural product analyst at SunSirs, believes that during the Spring Festival. Market purchases and sales stopped, and the market forecasting for domestic soybeans remained flat.
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