SunSirs: Soybeans in the New Season will be Listed soon, and Chinese Soybeans are Still Weak

According to the monitoring of SunSirs, since August, domestic soybean prices have opened a downward channel, and prices continue to decline. The demand for terminal soybean products has declined. The State Reserve soybean auction price has fallen, and the negative pressure has been suppressed. The price of domestic soybeans has been falling continuously until it reaches 9 In September, the market still hasn't improved. As of September 14, the average market price of domestic soybeans was 5,100 yuan/ton, which was 2.92% lower than that in early August.

According to the monthly rise and fall of domestic soybeans from January to August 2020, it can be seen that in 2020, domestic soybeans have increased significantly, and they have risen in the first 7 months. In March, domestic soybean prices have repeatedly hit record highs, with an increase of more than 20%. 

In August, domestic soybeans went up and down again, mainly due to the continuous increase in the auction volume of State Reserve soybeans, increasing supply, weak terminal demand, and rising prices of domestic soybeans, which continued to decline. Entering September, the domestic soybean market is still weak. It is approaching November, and the new season soybeans will be listed one after another. The main players in the market are waiting and watching, the transaction is limited, and the market is weak and stable.

National Reserve Trading Volume and Prices are Low, Domestic Soybeans Rise Under Pressure

Since August, the State Reserve soybeans have failed to sell again, and the transaction volume and prices have been low. A total of 5 auctions have been made. The transaction price has dropped to about 4,600-4,800 yuan/ton, and the transaction rate has dropped to about 50%. The transaction volume and price of State Reserve soybeans in September were basically the same as in August. Three auctions have been conducted. On September 9, the auction volume of State Reserve soybeans rebounded, and the transaction rate rose to around 70%. The transaction price remained at RMB 4,500/ton line.

At the end of September, the new season soybeans have been on the market one after another. The State Reserve soybeans are currently eager to clear their inventory, and the number of auctions has increased. As the Heilongjiang production area has experienced large-scale rains, the launch of the new season soybeans may be delayed, and the output will also have a certain impact. On the eve of National Day, some soy product manufacturers started stocking quotations. The State Reserve soybean transaction volume increased, and transaction prices were relatively stable. The main purchasers in the production area market are mainly wait-and-see, market transactions are limited, the price is still around 2.5 yuan/jin, and the market is weak and stable.

SunSirs agricultural product analysts believe that: on the eve of the launch of the new season soybeans, the State Reserve mainly clears soybean stocks, and the soybean market is unlikely to rise, and the main trend is still weak.

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