SunSirs: Poor Demand, China Domestic Soybean Market was Weak and Declining
August 11 2023 10:27:52 SunSirs (Selena)
According to monitoring data from SunSirs, since August, the domestic soybean market has been weak and declining, with an overall slight decline. On August 1st, the average market price of domestic soybeans was 5,300 RMB/ton. On August 10th, the average market price of domestic soybeans was 5,280 RMB/ton, a decrease of 0.38%.
After August, the temperature continued to rise, resulting in poor demand for soybean products at the end of the market. The acquiring entity lacked confidence in the market, resulting in a decline in market transactions and a slight decline in the market. The domestic soybean market in the main production area saw a slight correction in quotations, with prices dropping to around 2.6 yuan/jin, indicating an overall weak trend in the market.
SunSirs agricultural product analyst believes that the demand for terminal soybean products is poor, 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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