SunSirs: Favorable Support for the Improvement of China Domestic Soybean Market
August 03 2022 09:47:12 SunSirs (Selena)
According to the monitoring data of SunSirs, the domestic soybean market improved in early August, and the price rose slightly, lasting about 6,200 RMB/ ton. At the beginning of July, the market price of domestic soybeans was 6,164 RMB/ ton. On August 2, the average market price of domestic soybeans was 6,160 RMB/ ton, which fell 0.06% and rose 0.13% in a single day.
State Reserve soybean auction transaction improved, domestic soybean market improved
In July, domestic soybeans performed poorly, the auction turnover rate of State Reserve soybeans fell, and the market continued to be weak and downward. Since August, the domestic soybean market has warmed up, and the auction transaction of national reserve soybean has been better. Support the rise of domestic soybean market. On August 2, the national reserve soybean two-way auction trading plan of COFCO Oil Co., Ltd. sold 56,064 tons, of which 8,230 tons were auctioned by the warehouse directly under the central reserve grain Baiquan, all of which were sold, and 47,834 tons were auctioned by the warehouse directly under the central reserve grain Beian, all of which were sold.
SunSirs agricultural products analyst at the business club, believes that the auction transaction of State Reserve soybeans has improved, and the bad situation has been exhausted. In the future, the price of China domestic soybeans will continue to operate at a high level.
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