SunSirs: Poor Demand, Domestic Soybean Market Corrected
July 25 2023 14:20:39 SunSirs (John)
Price trend
According to monitoring data from SunSirs, on July 24th, the domestic soybean market gradually corrected, with an overall increase of 0.08% compared to July 17th. On July 24th, the average market price of domestically produced soybeans was 5,328 RMB/ton, a daily decrease of 0.22%.
Low demand, domestic soybean market slightly corrected
After mid July, due to poor terminal demand for soybean products, the acquiring entity lacked confidence in the market, resulting in average market transactions and relatively small market fluctuations. The domestic soybean market quotation in the main production area slightly corrected, with the price dropping to around 2.6 RMB/jin, and the overall market remained firm.
Market outlook
Agricultural product analysts from SunSirs believe that the demand for terminal soybean products is average, and the domestic soybean market will continue to decline in the future.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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