SunSirs: Terminal Demand Was Poor and Domestic Soybean Was in a Weak Operation
March 10 2023 10:08:55 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, since March, the domestic soybean market has been dominated by weak consolidation, and the price has fluctuated slightly. At the beginning of the month, the average market price of domestic soybeans was 5,400 RMB/ton; On March 9, the average market price of domestic soybeans was 5,402 RMB/ton, down 0.04%.
Terminal demand was Poor and domestic soybean was in a weak operation
Since March, the price of domestic soybeans purchased by the State Storage had been reduced gradually, with the mainstream price of 2.7 RMB/jin. The market was mainly based on the purchase price of the State Storage, and the market was relatively stable. The traders' shipments were average, and the surplus grain in the hands of farmers was insufficient and they were reluctant to sell. The mainstream price of domestic soybeans in the main production area of Heilongjiang Province was 2.6-2.7 RMB/jin, and the overall market declined slightly.
Market outlook
The agricultural product analysts of SunSirs believe that the demand for terminal soybean products was low, and the domestic soybean market will still fall in a weak way in the future.
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