SunSirs: Negative Pressure, China Domestic Soybean Market Declines
September 19 2023 14:21:01 SunSirs (Selena)
According to monitoring data from SunSirs, since September, the domestic soybean market has been declining weakly, with a decline of nearly 4%. On September 1st, the average market price of domestic soybeans was 5,300 RMB/ton. On September 18th, the average market price of domestic soybeans was 5,100 RMB/ton, a decrease of 3.77%.
After September, the demand for terminal soybean products has been sluggish, coupled with the continuous auction of state-owned soybean reserves, the new season of soybeans is about to go public. The acquiring entities lack confidence in the market, with sufficient supply, and the domestic market is weak and declining. The domestic soybean market prices in the main production areas have fallen one after another, with prices continuing to be around 2.55 RMB/500g, and the overall market is weak and declining.
SunSirs agricultural product analyst at SunSirs, believes that the new season of soybeans is gradually going public, and the domestic soybean market is operating in a weak trend.
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