SunSirs: New Soybeans are Concentrated on the Market, China Domestic Soybean Market is Weakening
October 18 2023 14:38:12 SunSirs (Selena)
According to monitoring data from SunSirs, after the National Day holiday, the domestic soybean market fell weakly, with a drop of over 2%. On October 17th, the average market price of domestic soybeans was 4,920 RMB/ton. On October 17th, the average market price of domestic soybeans was 4,920 RMB/ton, a decrease of 2.57%.
After the National Day holiday, domestic soybeans in the new season have been harvested and listed in a centralized manner. The moisture content of the new season soybeans is relatively high, and the purchase price of national storage tanks has significantly decreased compared to the previous purchase price. The purchase price of oil beans in some national storage tanks is 2.4 RMB/jin, with a price decrease of 0.1-0.2 RMB/500g. Market acquisition entities are mainly wait-and-see, with cold sales and weak domestic soybean market.
SunSirs agricultural product analyst believes that the domestic soybean market will continue to weaken in the future due to the concentrated listing and loose supply of domestic soybeans in the new season.
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