SunSirs: Led by Bad News, Domestic Soybean Market Was Weak
February 17 2023 13:49:43 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, since February, the domestic soybean market had continued to run in a weak position, mainly in a oscillatory decline. At the beginning of the month, the average market price of domestic soybeans was 5,400 RMB/ton; On February 16, the average market price of domestic soybeans was 5,380 RMB/ton, down 0.37%.
Led by bad news, domestic soybean market continued to weaken
Since February, the price of domestic soybeans purchased by the State Reserve had dropped below 2.7 yuan/jin, and the mainstream price was 2.68-2.69 yuan/jin. The market was mainly based on the purchase price of State Reserve, and the market was relatively stable. Traders' shipments were general, and farmers were cautious in entering the market. The mainstream price of domestic soybeans in the main production area of Heilongjiang was 2.6-2.7 yuan/jin, and the market was stable.
Market outlook
The agricultural product analysts of SunSirs believe that the purchase price of the State Reserve was reduced, the demand for soybean products was flat, and the domestic soybean market will still be weak and stable in the future.
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