SunSirs: Poor Terminal Demand, China Domestic Soybean Market Weakened
December 21 2023 13:44:26 SunSirs (Selena)
According to monitoring data from SunSirs, since mid December, the domestic soybean market has been weak and prices have slightly declined. On December 15th, the average market price of domestic soybeans was 4,920 RMB/ton, while on December 19th, the average market price of domestic soybeans was 4,900 RMB/ton, with a price drop of 0.41%.
Starting from mid December, the main production areas have experienced snowy weather, increased transportation costs, and farmers are reluctant to sell. The demand for terminal soybean products is sluggish, and the market purchase and sales are cold, with flat sales. The boosting effect of national storage facilities is limited, and the domestic soybean market continues to decline weakly, with prices falling to 4,900 RMB/ton.
SunSirs agricultural product analyst believes that the bearish factors are still present, and the domestic soybean market will continue to be weak in the future.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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