Price trend

According to the monitoring data of SunSirs, since April, the domestic soybean market continued to fluctuate weakly, and the price fell slightly. As of April 22, the average domestic soybean market price was 6,044 RMB/ton, down 0.07% from the beginning of the month.

Analysis review

Since April, the supply of new season soybeans in the main producing areas has been tight, and the auction of soybeans from the state reserve has continued to limit the domestic soybean market to a certain extent.

Affected by the epidemic, logistics is limited, demand for soy products was sluggish, and traders in production areas \mainly supported high prices. The mainstream price of domestic soybeans was 2.95-3 RMB/catties. The market transaction was average, and the purchase and sales were deserted.

Beginning in mid-April, the State Reserve auctioned soybeans to increase market supply. Traders lacked confidence in supporting prices, and the domestic soybean market fell slightly.

Market outlook

The agricultural product analyst of SunSirs believes that in the short term, the negative factors are still there, and the domestic soybean market outlook will remain weak and stable.

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