SunSirs: Relatively Tight Supply, China Domestic Soybean Market slightly Rebounds
April 24 2024 16:06:20 SunSirs (Selena)
According to the commodity market analysis system of SunSirs, since April, the domestic soybean market has remained stable, with an increase of less than 1%. On April 1st, the average market price of domestic soybeans was 4,700 RMB/ton. On April 22nd, the average market price of domestic soybeans was 4,732 RMB/ton, an increase of 0.68%.
Starting from April, the demand for terminal soybean products remains sluggish, and the domestic soybean market has been sluggish in terms of purchase and sales. The purchase price of national storage warehouses is stable, and the domestic soybean market continues to be around 4,700 RMB/ton, with stable prices and slight fluctuations. Spring plowing is approaching, and farmers have less surplus soybean grain in their hands, leaving no time to sell beans. The market is generally selling goods, and the market is running smoothly. As of April 18th, the domestic soybean market has been running steadily.
On the week of April 22nd, the supply of domestically produced soybeans in the new season of the market was relatively tight, with a slight increase in the high protein soybean market. Terminal demand gradually stabilized, and the domestic soybean market improved compared to the previous period, with overall stable operation as the main trend.
SunSirs agricultural product analyst believes that the market for terminal soybean products is weak, and the rise of domestic soybean prices in the future will still be under pressure.
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