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SunSirs: China's Soybean Market is Weak in September

September 29 2020 07:57:29     SunSirs (Linda)

According to the monitoring of SunSirs, the domestic soybean market continued to be weak in September, with prices falling slightly. At the beginning of the month, the average domestic soybean market price was 5,130 yuan/ton, and at the end of the month, the average domestic soybean market price was 5,110 yuan/ton, and the price dropped 0.39%.

On the eve of the launch of new beans, the domestic soybean market is weak and stable

Entering September, domestic soybean surplus grains are scarce, and new soybeans will be listed one after another at the end of the month. The market players are in a wait-and-see state, entering the market cautiously, and the domestic soybean market is stable. Due to the impact of the typhoon, agriculture in Heilongjiang, the main producing area, has been severely affected. Farmers have hoped that the new season soybeans will be opened for weighing prices. On September 21, China Grain Storage and Oils Co., Ltd. made a special purchase, the top price was 4,100 yuan/ton, and all the purchases were unsold.

High-quality grain sources in Heilongjiang's main producing areas are around 2.6 yuan/kg, with few grain sources and limited transactions. At the end of the month, some traders reported a new season soybean price of 2.15-2.2 yuan/kg, and the price of gross grains was 2.05-2.1 yuan/kg. At present, the moisture content of new grains is relatively high, and the market is mainly priceless.

SunSirs agricultural products analysts believe that after the National Day, the new season soybeans will be listed one after another. Because the moisture content of the new soybeans is still relatively large, the market volume is relatively limited, and the price of the new season soybeans is lower, which may usher in a weak market.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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