SunSirs: The State Reserve Supported the Market, and Domestic Soybean Market Rose
March 16 2023 11:16:15 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, in the middle of March, the purchase price of the State Reserve rose, the policy supported the market, and the domestic soybean market warmed up, and the price rose. At the beginning of the month, the average market price of domestic soybeans was 5,400 RMB/ton; On March 14, the average market price of domestic soybeans was 5,550 RMB/ton, up 2.7%.
Analysis review
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 purchased price of the State Storage, and the market was relatively stable. Traders’ shipment was general, and farmers lacked surplus grain in their hands, and 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.
Starting on the 9th, the purchase price of national warehouses in many regions of China Grain Storage was raised to 2.775 RMB/jin, and the price rose. The market transaction was accelerated, and the main quotation of national reserve soybeans was based on the national reserve price, and the market rose one after another.
Market outlook
The agricultural product analysts of SunSirs believe that the market's soybean supply was tightening in the new season, and the price of the national reserve was stable, and the domestic soybean market may continue to run at a high level in the future.
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