Commodity News
SunSirs: Downstream Demand Support, China Soybean Oil Market is Rising
November 09 2023 14:31:53 SunSirs (Selena)
On November 8th, the domestic soybean oil market slightly increased. The fourth quarter is the peak season for oil consumption, and the rigid demand in the terminal catering industry has increased, supporting the soybean oil market. South American soybeans in the outer market have entered the planting period, supported by bullish sentiment. Domestic soybean oil futures have risen with the market, and spot prices have rebounded. The average market price is 8,470 RMB/ton, with a daily price increase of 0.85%. Terminal demand support, and there is still room for improvement in the soybean oil market in the future.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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