Price trend

According to the monitoring data of SunSirs, since May, the domestic soybean market has recovered and the price has risen. As of May 16, the average domestic soybean market price was 6,076 RMB/ton, up 0.53% from the beginning of the month.

Analysis review

After the May Day holiday, the main producing areas delayed the spring sowing due to the weather, and there were few new beans left. In addition, the spring ploughing was approaching, and farmers had no time to sell beans. The soybean supply in the main producing areas tightened, and the demand for terminal soybean products weakened, and the buying and selling atmosphere was deserted, the price rose slightly. The mainstream price of soybeans in the market was still 3-3.1 RMB/catties, and traders had a strong psychology to support the price, and the market remained firm. On May 13, the State Reserve auctioned 314,000 tons of imported soybeans to ease the pressure on market supply.

On May 16, due to the high-quality soybean grain source and high protein in the hands of traders, soybean prices generally rose, and the mainstream quotation was 3.05-3.1 RMB/catties. The market transaction was acceptable, and the goods were sold well.

Market outlook

The agricultural product analyst of SunSirs believes that: the spring ploughing has arrived, the supply of domestic soybeans is tight, and the soybean market in the future will remain strong.

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