SunSirs: Terminal Demand Was Average, and Domestic Soybean Market Was Stable
May 15 2023 14:14:02 SunSirs (John)
Price trend
According to monitoring data from SunSirs, after May Day, the domestic soybean market continued to oscillate and decline, with a decline of nearly 1%. At the beginning of the month, the average market price of domestic soybeans was 5,400 RMB/ton. On May 12th, the average market price of domestic soybeans was 5,350 RMB/ton, with a price drop of 0.93%.
Terminal demand was average, and domestic soybean market was stable
After the May Day holiday, the demand for terminal soybean products weakened, market transactions declined, and the domestic soybean market continued to be weak and stable. The mainstream quotation in the main production area market was around 2.65-2.7 RMB/jin, and the market remained stable. The purchase price of national storage facilities remained at 2.75-2.775 RMB/jin, the acquisition price of traders was slightly lower, and the market fluctuation was not significant.
Market outlook
Agricultural product analysts from SunSirs believe that the demand for terminal soybean products is poor, and the domestic soybean market will continue to be weak in the future.
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