SunSirs: China Domestic Soybeans Market is Weakening in the New Season
October 27 2022 09:07:12 SunSirs (Selena)
According to the monitoring data of SunSirs, since the middle of October, the soybean market in the new season has been centralized, and the domestic soybean market has weakened to about 5,810 RMB/ ton. At the beginning of the month, the market price of domestic soybeans was 5,820 RMB/ ton. On October 26, the average market price of domestic soybeans was 5,810 RMB/ ton, down 0.17%.
Since the middle of October, new season soybeans have been listed in an all-round way. The market acquirers are cautious in entering the market, and the demand is average. The domestic soybean market continues to weaken, with the mainstream quotation of 2.8-2.9 RMB /kg. Near the end of the month, some national repositories began to purchase on the market, and the mainstream quotation continued to be about 2.9 RMB /kg, and the market was relatively stable.
SunSirs agricultural product analyst believes that: in the new season, soybeans are on the market, the market supply is loose, and the purchase demand for terminal soybean products is average. China domestic soybean market continues to weaken in the future.
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