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SunSirs: Agriculture: Domestic Soybeans Continue to Rise

December 09 2019 08:48:47     SunSirs (Daisy)

1. Price Trend

The soybean commodity index on December 6 was 91.41, which was the same as yesterday. It was 22.18% lower than the highest point of the cycle at 117.47 on March 29, 2013 and was 2.18% higher than the lowest point at 89.46 on November 12, 2019 (Note: The cycle refers to September 1, 2011 to present).

According to data from SunSirs, domestic soybean price continued to rise this week. At the beginning of the week, the average domestic soybean price was 3,543 RMB/ton. On the weekend, the average domestic soybean price was 3,583 RMB/ton, and the price rose by 1.13%.

This week's Northeast New Season soybean continues to rise. The main body of purchasers is optimistic about the market forecasting. They will increase their purchases. The more expensive the price, the more the farmers will be more willing to sell. The market purchase and sale is relatively cold, as the price is marketless.

2. Market Analysis

Main producing areas: Suihua, Heilongjiang Province's soybean soy grain price in the new season is about 3.5 RMB/kilogram. Commodity beans are quoting about 3.6-3.7 RMB/kilogram, a slight increase by 0.1-0.2 RMB/kilogram. New-season gross grain price in Mudanjiang areas is 3.5 RMB/kilogram and the price of net grain in Mudanjiang areas is about 3.6 RMB/kilogram. Meanwhile, the price of new-season gross grain in Qiqihaer region is 3.4-3.6 RMB/kilogram and the price of tower grain is about 3.6-3.7 RMB/kilogram. The price continues to run at a high level.

Sales areas: The mainstream purchase price in Shandong is 4.6 RMB/kilogram, and the starting price is 5 RMB/kilogram. The price is mainly stable. In Anhui Province and other places in Henan Province, the mainstream price of 4.3-4.4 RMB/kilogram. Price rose and the market purchase and sale cooled. The traders take goods at generally fair frequency.

National Reserve: The storage price of the China Poppy Inner Mongolia Dayangshu subsidiary, which belongs to the Kutawenaobao branch rose to 3,480 RMB/ton, which was 120 RMB/ton higher than the purchase price in mid-October, and the turnover of this batch was 15,000 tons.

From December 3, Langzhong's Grain Store directly under the Harbin National Standard raised the price of the third-grade soybean in the national standard to 3.56 RMB/kilogram, which is equal to 3,560 RMB/kilogram.

Data: Up to November 28, the United States' net soybean export sales this year were 683,800 tons, and the next year's net soybean export sales were 0 tons. That week, the United States exported 1,498,100 tons of soybeans this year.

3. Market Forecasting 

Li Bing, an agricultural product analyst at SunSirs, believes that before the Spring Festival, funds need to be withdrawn. Or domestic soybean supply should be increased, and the market will continue to maintain stability in the near future.

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

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