SunSirs: Weak Demand, China Domestic Soybean Market was Sluggish
December 08 2023 14:16:23 SunSirs (Selena)
According to monitoring data from SunSirs, since December, the domestic soybean market has been weakly declining, with prices falling by over 1%. At the beginning of the month, the average market price of domestic soybeans was 4,950 RMB/ton. On the 7th, the average market price of domestic soybeans was 4,900 RMB/ton, with a price drop of 1.01%.
Starting from December, the domestic market is mainly dominated by the acquisition of state-owned reserves, with overall prices experiencing a slight weak decline. The average market price of domestically produced soybeans has dropped to around 4,900 RMB/ton. Some traders saw a decrease in transaction prices. Farmers lack confidence in entering the market, resulting in sluggish market purchases and sales, and a weak decline in domestic soybeans.
SunSirs agricultural product analyst believes that the demand for terminal soy products is weak, and the domestic soybean market will continue to weaken in the future.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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