SunSirs: Sluggish Demand, Weak China Domestic Soybean Market Consolidation in November
November 25 2022 10:40:52 SunSirs (Selena)
According to the monitoring data of SunSirs, the domestic soybean market declined in November, and the market continued to be 5,700 RMB/ ton. At the beginning of this month, the average price of domestic soybean market was 5,800 RMB/ ton. On November 24, the average price of domestic soybean market was 5,772 RMB/ ton, down 0.48%.
In November, domestic soybeans in the new season in Northeast China were basically on the market, with loose supply and flat demand for terminal soybean products. Most of the market prices were listed at the national storage, with gross grain of 2.75-2.8 RMB/kg and commodity beans of 2.85-2.9 RMB/kg. The overall market was weak and stable.
After the middle of the year, the purchase price of soybeans from the State Reserve decreased slightly, and the market price of domestic soybeans continued to decline, the transaction was flat, and the market continued to consolidate in a weak way.
SunSirs agricultural product analyst believes that the demand for end soybean products is general, transportation is blocked, market transactions are sluggish, and the future market situation of domestic soybeans is still difficult to improve.
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