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SunSirs: The Listed Price of Grain Reserves was 2.2 RMB/kg, Domestic Soybean Price Continuing Crazy

March 27 2020 13:08:25     SunSirs (Daisy)

Since March, the domestic soybean crazy, and prices continue to rise rapidly, constantly breaking new records. The prices increased from 1.8 RMB/kg to 2.1 RMB/kg. The average price of domestic soybean at the beginning of the month was 3,666 RMB/ton. On March 26, the average price of domestic soybean was 4,300 RMB/ton, up 17.27%, more than 20% compared with the previous year.

In early March, as for producing area in Heilongjiang province, logistics transportation cost increase, and quality beans sources become scarce. Traders of soybean maintain a bullish market purchase. Plus, terminal soy factory has resumption, with rigid demand. Heilongjiang in most commodity beans out loading price rise all the way up to 4200 RMB/ton, increasing by 400 RMB/ton compared with that price before Spring Festival.

In the middle of March, the central grain direct storage bank in northeast China successively purchased the new season of domestic soybeans, and the direct storage bank in Bei 'an, Dayang and Dunhua launched the purchase, with the purchase price of 4200 RMB/ton. Because the state reserves the purchase price is higher, the farmer’s willingness price is heavier, and the domestic soybean price continues to rise.

On March 25, China grain storage and big poplar branch warehouse again raised the price of domestic soybean to 4,400 RMB/ton, continuing to boost the price of domestic soybean. Near the end of March, the mainstream purchase price of domestic soybean in Heilongjiang province was 4,300 RMB/ton, and the purchase price of high-quality soybean exceeded 4,400 RMB/ton.

Futures: On March 26, Dalian Commodity Exchange (DCE) soybean main a2005 contract, at 9:00, the opening price 4491 RMB, the latest 4492 RMB, up 44 RMB, and at 11 o 'clock, the latest quotation was 4593 RMB/ton, up 145 RMB/ton.

State Reserve: Starting from March 25, China grain storage and big poplar direct storage co., ltd. will purchase the new 2019 domestic soybean national standard grade 3 or above. The warehousing price of the day is 2.2 RMB/kg, and the acquisition deadline is April 15.

Market Forecast: SunSirs agricultural analyst Li Bing thinks that as a result of high-quality bean source supply constraints, and the state reserve purchase price is high. It is expected that in the short-term domestic soybean prices will continue to run high.

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