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SunSirs: Poor Demand, China Domestic Soybean Market continues to Weaken
December 21 2022 13:06:17SunSirs(Selena)

According to the monitoring data of SunSirs, the domestic soybean market declined weakly in December, and the price fell to the front line of 5,650 RMB/ton. At the beginning of this month, the average price of domestic soybean market was 5,758 RMB/ton. On December 20, the average price of domestic soybean market was 5,650 RMB/ton, down 1.88%.

Since December, the demand for terminal soybean products has been poor. The domestic soybean market in the main northeast production areas has continued to decline in a weak way for more than half a month. The mainstream price of gross grain is 2.75-2.8 RMB/kg, and that of commodity beans is about 2.8 RMB/kg. The logistics transportation is blocked, the traders have insufficient confidence in entering the market, the enthusiasm for terminal procurement is reduced, the goods are sold evenly, the market transaction is average, and the market continues to be weak, mainly consolidation, and there is no fluctuation for the time being.

Since late this year, the domestic soybean market is still weak, with the mainstream quotation of 2.7-2.75 RMB/kg and commodity beans of about 2.8 RMB/kg. The price is weak and continues to fall.

SunSirs agricultural product analyst of SunSirs, believes that: near New Year's Day, the demand for end soybean products is average, and the bad news is still there. It is expected that China domestic soybean market will continue to decline in the future.

 

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