SunSirs: China Domestic Soybean Market is Weak in September
September 29 2022 10:28:17 SunSirs (Selena)
According to the monitoring data of SunSirs, the domestic soybean market continued to be weak and stable in September, with small fluctuations, lasting about 6,100 RMB/ton. At the beginning of this month, the market price of domestic soybeans was 6,190 RMB/ton. On September 27, the average market price of domestic soybeans was 6,150 RMB/ton, down 0.65%.
At the beginning of September, due to the coming of soybean in the new season, the market acquirer was cautious in entering the market, and the demand for terminal soybean products was stable. The purchase and sales of domestic soybean market were relatively cold, and the market price continued to be 3.1 RMB/kg.
In the middle and late September, domestic soybeans were successively listed in the new season, and the procurement demand of terminal acquisition entities was general. The domestic soybean market was weak, the new soybean price was low, and the market transaction was limited.
At the end of September, the new soybean season is about to enter the harvest season. The market supply is tightening, and the new soybean market is declining. The mainstream quotation is 2.9-3 RMB/half kg.
SunSirs agricultural product analyst believes that after the National Day holiday, soybeans in the new season will come into the market in an all-round way. In the short term, the purchase and sales of soybeans will remain cold. It is expected that China domestic soybeans will continue to weaken in the future.
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