SunSirs: Poor Terminal Demand, China Domestic Soybean Market continues to Weaken
December 08 2022 10:35:19 SunSirs (Selena)
According to the monitoring data of SunSirs, the domestic soybean market declined in December, and the market continued to be 5,700 RMB/ton. At the beginning of this month, the average market price of domestic soybeans was 5,758 RMB/ton. On December 7, the average market price of domestic soybeans was 5,736 RMB/ton, down 0.38%.
Since December, the demand for terminal soybean products has been poor, and the domestic soybean market in the main northeast production areas has continued to decline in a weak way. The mainstream price of gross grain is 2.75-2.8 RMB/kg, and that of commodity beans is about 2.8-2.85 RMB/kg. The traders have insufficient confidence in entering the market, their enthusiasm for terminal procurement has declined, their goods are not sold well, and the market turnover is average.
SunSirs agricultural product analyst believes that the market of terminal soybean products is difficult to change significantly in the short term, and the soybean market will still weaken in the future.
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