SunSirs: New Beans are about to Go Public, China Soybean Market is Weak and Declining
September 25 2023 14:34:56 SunSirs (Selena)
According to monitoring data from SunSirs, starting from September 15th, the domestic soybean market fell weakly, with a decline of nearly 1%. On September 15th, the average market price of domestic soybeans was 5,150 RMB/ton. On September 22nd, the average market price of domestic soybeans was 5,100 RMB/ton, a decrease of 0.97%.
Starting from September 15th, the new season of soybean harvest is approaching, and market trading entities are cautious in entering the market. Purchase and sales are flat, and there are continuous auctions of state-owned soybean reserves. Market supply pressure is still ongoing, and the domestic soybean market has slightly declined. The mainstream quotation has dropped to 2.55 RMB/500g, and the price has dropped by 0.1 RMB/500g.
SunSirs agricultural product analyst believes that the Double Festival is approaching and the new season of domestic soybeans is about to be launched. In the short term, the domestic soybean market will remain stable.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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