SunSirs: Farmers are Reluctant to Sell, Chinese Soybeans Continue to Rise
November 16 2020 08:31:44 SunSirs (Linda)
According to the monitoring of SunSirs, after the National Day, the price of domestic soybeans alternates between the old and the new. The new soybeans are listed at an open scale price of about 2.1 yuan/jin, which is a cliff-like drop compared with the previous 2019 soybeans. Beginning in mid-October, the supply of new beans was tight, and prices continued to rise. In November, the price of new beans continued to rise. As of November 13, the average market price of domestic soybeans was 4,700 yuan/ton, a 2.17% increase from the beginning of November.
Farmers are reluctant to sell, domestic soybean prices continue to rise
After November, domestic soybeans entered the harvest season, and new beans were launched one after another. The price of new beans was 2.1 yuan/500g. Compared with the remaining grain in 2019, the price dropped sharply, but compared with the price of soybeans in 2019, the price increased by 0.3 yuan/ 500g. Starting in mid-October, due to the impact of the typhoon, the speed of new soybeans listing slowed down and the supply was tight. The price of domestic soybeans rose all the way and prices continued to rise.
Since November, new soybeans have basically been launched in full, domestic soybeans have continued to rise, the market has been bullish, and farmers have been reluctant to sell. The price of some domestic soybeans has returned to 2.6 yuan/500g, and the mainstream price of gross grains is still 2.35-2.45 yuan/500g , The price rose 0.15-0.25 yuan/500g, and the market fell into a state of not selling as it rose.
SunSirs agricultural product analysts believe that the current farmers are reluctant to sell, the domestic soybean market is still tight, and the market outlook is still high.
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