SunSirs: China Domestic Soybean Market is Weak and Declining in December
December 27 2023 15:16:00 SunSirs (Selena)
According to the commodity market analysis system of SunSirs, starting from December, the demand for terminal soybean products has been weak, and the domestic soybean market has declined weakly, with a decline of over 2%. At the beginning of the month, the average market price of domestically produced soybeans was 4,950 RMB/ton; On December 26th, the average market price of domestically produced soybeans was 4,850 RMB/ton, a decrease of 2.02%.
Since December, the domestic soybean market has continued to decline. The demand for terminal soy products is weak, and the price boost in the Kuto market is limited, resulting in sluggish market purchases and sales. The increase in snowy weather and transportation costs has led to a slight decline in the domestic soybean market, with the average market price dropping to 2.4 RMB/500g, indicating average sales and a sustained weak trend in the market.
Li Bing, an agricultural product analyst at SunSirs, believes that after New Year's Day, market purchases and sales are gradually coming to an end, and terminal demand is still poor. The domestic soybean market will continue to weaken in the future.
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