SunSirs: Poor Demand, China Domestic Soybean Market is Weak
November 22 2023 14:12:04 SunSirs (Selena)
According to the Commodity Analysis System of SunSirs, since November, the domestic soybean market has slightly declined and the market is operating in a weak state. At the beginning of the month, the average market price of domestic soybeans was 5,020 RMB/ton. On the 19th, the average market price of domestic soybeans was 5,000 RMB/ton, a decrease of 0.4%.
Starting from November, the new season of soybeans has been fully listed, mainly in the national storage and custody market. Market acquisition entities are cautious in entering the market, and the purchasing enthusiasm is average. The average price of domestic soybeans in the market has been slightly reduced, with the mainstream market average price of 5,000 RMB/ton. The demand for terminal soybean products is average, and the moisture content of the new season soybeans is high. Farmers hold a wait-and-see attitude, and the market purchasing and selling are cold. The domestic soybean market has mainly adjusted slightly.
SunSirs agricultural product analyst believes that with weak terminal demand, the domestic soybean market will continue to be weak in the future.
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