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SunSirs: China Domestic Soybean Market Remains Strong in May
May 29 2024 15:12:29SunSirs(Selena)

According to the commodity market analysis system of SunSirs, the overall domestic soybean market has risen since May. On May 1st, the average market price of domestic soybeans was 4,732 RMB/ton, and on May 28th, the average market price of domestic soybeans was 4,804 RMB/ton, with a price increase of 1.52%.

After the May Day holiday, domestic soybeans in the main production area of Heilongjiang have started to be sown one after another. The supply of aged soybeans in the market is relatively tight, and the purchase and sales are cold. The purchase price of national storage warehouses is stable, and the market price of domestic soybeans continues to be around 4,700 RMB/ton, with slight fluctuations. The market has risen slightly compared to before the holiday, and the market is strong.

In the middle of the month, farmers were busy cultivating soybeans, and the market supply was tightening. The domestic soybean market slightly increased, and the average market price rose to 2.4 RMB/jin, warming up the market.

In the latter half of the year, the auction transactions of state-owned soybean reserves were average, and the 93 purchase was still ongoing. It was a time of spring sowing, and the market was sluggish. The domestic market was running smoothly, and some traders purchased soybeans at a price of 2.41 RMB/kg, with a slight increase in price.

According to agricultural product analysts from SunSirs, starting from June, with the continuous auctions of national reserve soybeans and an increase in market supply, domestic soybeans have shown weak growth and weak declines in the future.


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