SunSirs: Domestic Soybeans Rose Steadily This Week (November 11-15)

On November 14, the soybean commodity index was 89.88, unchanged from yesterday, down 23.49% from 117.47 (2013-03-29), the highest point in the cycle, and up 0.47% from 89.46, the lowest point on November 12, 2019. (Note: cycle refers to 2011-09-01 to now)

According to the monitoring of the business agency, the price of domestic soybeans rose slightly this week. At the beginning of the week, the average price of soybeans was 3506 yuan / ton, and at the end of the week, the average price of soybeans was 3523 yuan / ton, up 0.48%.

This week, the northeast new season soybean basically went on the market in an all-round way, the market purchase and sale was stable, the transaction was flat, the price of high-quality grain sources rose slightly, and the overall market was relatively stable. The price of soybean gross grain in the new season of Suihua in main areas of Heilongjiang Province is about RMB 1.65-1.7 yuan / Jin, the price of commodity soybean is about RMB 1.78-1.8 yuan / Jin, which is up RMB 0.01-0.02 yuan / Jin, the price of Mudanjiang gross grain is RMB 1.7 yuan / Jin, the price of net grain is RMB 1.8 yuan / Jin, the price of Qiqihar gross grain is about RMB 1.7 yuan / Jin, the price of tower grain is about RMB 1.8-1.85 yuan / Jin, which is up slightly. In the new season, the price of outbound departure in Shandong is RMB 2.1-2.2 yuan / Jin, with stable market. The price in Henan, Anhui and other places has basically no change, and the mainstream price is about RMB 2.1-2.2 yuan / Jin.

Data: the USDA's weekly crop growth report shows that the soybean harvest rate in the United States was 85% in the week ending November 10, 75% in the previous week, 87% in the same period last year, and the five-year average was 92%.

SunSirs analyst of agricultural products believes that: in winter, snowy days increase, roads become slippery, soybean transportation difficulties increase, and purchase and sales are even colder. Domestic soybeans will still be weak in the future.

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