According to the monitoring of SunSirs: after the National Day, the new season soybeans will be listed successively, and the opening price of new soybeans will be around 2.1 yuan/500g. Compared with the high price of the old beans, the price has dropped sharply. On the 20th, the average market price of domestic soybeans was 4,400 yuan/ton, which was 13.84% lower than that at the beginning of the month, and 4.76% higher than that after the National Day.

According to the chart of domestic soybean prices from January 2019 to September 2020, it can be seen that the domestic soybean market fluctuated relatively little in 2019, and the overall market stabilized mainly. In the fourth quarter of the new soybean market, the market has undergone major changes. The price of domestic soybeans fell by more than 3%. The price increase from November to December was around 1%. Because October is the harvest time of the new season soybeans, and the new and old alternate, the prices of domestic soybeans will rise and fall sharply.

After October 2020, the price of new soybeans has risen and fallen more than the previous high-priced soybeans. Due to the tight supply of domestic soybeans this year, the price has soared. Since March, the price of domestic soybeans has been soaring. The price of domestic soybeans has reached 2.6 yuan/500g in September. It has risen by 3 yuan/500g. Due to the relatively small number of soybeans on the market in the new season, the terminal purchase enthusiasm is high, and the price of domestic soybeans continues to rise, reaching around 2.2 yuan/500g.

Tight supply, new season soybean market continues to rise

In October, domestic soybeans entered the traditional harvesting season. Heilongjiang, the main producing area, was previously affected by typhoons. There were more rains and weather, the harvesting progress was relatively slow. 2.1 yuan/500g, this week’s new season domestic soybeans have been 2.2-2.3 yuan/500g, and the price is 0.1 yuan/500g higher than the previous period.

At present, the price of domestic soybeans is rising obviously. Farmers are reluctant to sell, and prices continue to run at a high level. The main bodies such as China Grain Storage have not yet fully entered the market. The market is bullish and prices remain high.

SunSirs agricultural product analysts believe that the new beans in the producing areas will be listed one after another, and prices are still easy to rise but difficult to fall in the short term. In the long run, the room for big increases is limited.

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