SunSirs: Supply is Tightening, China Domestic Soybean Market is slightly Rising
December 15 2023 14:02:36 SunSirs (Selena)
According to monitoring data from SunSirs, the domestic soybean market remained stable and slightly increased in mid December. As of December 14th, the average market price of domestically produced soybeans was 4,920 RMB/ton, an increase of 0.2% compared to December 11th.
In mid December, due to cold weather and increased transportation costs, farmers were reluctant to sell, and the domestic soybean market gradually improved, with prices slightly increasing. The mainstream quotation was 2.45-2.5 RMB/500g. The market is characterized by sluggish purchasing and sales, with the focus on the national reserve and storage market. The market has a flat sales volume and average transactions, while the market remains strong.
SunSirs agricultural product analysts believe that supply and demand are weak, and there is limited room for domestic soybean prices to rise in the future.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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