SunSirs monitoring data shows that after New Year's Day, domestic soybean prices in Heilongjiang remained strong, supported by rigid demand for terminal soybean products, logistics and transportation costs increased, and the market continued to rise. At the beginning of the month, the average market price of domestic soybeans was 5,100 yuan/ton. On January 26, the average market price of domestic soybeans was 5,500 yuan/ton, and the price rose 7.84%.

After November 2020, domestic soybeans have been on the rise every week, and they are all red, and the rise is strong, and the increase has been more than 1% and close to 2% for many weeks. January 2021 also rose for two consecutive weeks, with an increase of 1.9%, close to 2%. The price of domestic soybeans continued to rise on the 26th. The mainstream price was 5500 yuan/ton, a single-day increase of 1.85%.

Terminal demand supports domestic soybean prices continue to rise in January

After New Year's Day, the price of domestic soybeans in Heilongjiang continued to rise, hitting new highs repeatedly, and the mainstream quotation exceeded RMB 5,500/ton. The main reason: the terminal soybean product factory was under stocking due to high price of soybeans in the early stage, and the stocking quotation was started on the eve of the Spring Festival, and the market volume increased. On the other hand, due to rain and snow weather, roads freeze, village logistics is blocked, transportation costs increase, and farmers have insufficient surplus grain, and the bullish mentality is heavier. The domestic market has a tight supply of domestic soybeans, supporting the continued increase in domestic soybean prices. Throughout January, the price of domestic soybeans continued to rise, an increase of nearly 8%.

The mainstream price of domestic soybean gross grains in Heilongjiang is 2.7-2.8 yuan/kg, and the loading price of soybeans is 2.85 yuan/kg, an average weekly increase of 0.05 yuan/kg. Due to the small margin of domestic soybeans, the main market players are still bullish, coupled with the high corn price, the rigid demand for soybean products has increased, and domestic soybeans have been rising.

SunSirs agricultural product analysts believe that the Spring Festival is approaching, soy product manufacturers will gradually end their stock market, and domestic soybeans are already at a historical high. It is expected that the market outlook will be limited and the weakness will be stabilized.

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