SunSirs: The Domestic Soybean Market Fluctuated and Declined in April

Price trend

According to the Commodity Market Analysis System of SunSirs, since April, domestic soybeans had oscillated and declined, and the market continued to decline. At the beginning of the month, the average market price of domestic soybeans was 5,550 RMB/ton; On April 26th, the average market price of domestic soybeans was 5,400 RMB/ton, with a price drop of 2.7%.

The bearish factor was dominant, and the domestic soybean market fluctuated and fell in April

Since April, the role of national reserve prices in supporting the market was limited, with poor demand for terminal soybean products and limited procurement volume. The domestic soybean market was still weak and declining. The mainstream quotation in the main production area market was 2.7-2.75 RMB/ton/jin, with a slight decline in the market, limited transaction volume, and average sales. Although the purchase price of the national reserve was 2.75 to 2.775 RMB/ton per jin, due to the relatively low market supply of grain, the purchase price in villages was still weaker.

After the middle of the month, terminal demand was weak, traders were cautious in entering the market, and the domestic soybean market continued to be weak and downward. The mainstream price was 2.7 RMB/ton/jin, and the market transaction was average, with flat sales, and the market continued until the end of the month.

Market outlook

Agricultural product analysts from SunSirs believe that in May, demand for soybean products will rebound, and it is expected that domestic soybean markets may experience a surge in the future.

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