Price trend
According to the monitoring data of SunSirs, the domestic soybean market has risen slightly since mid-May. As of May 30, the average domestic soybean market price was 6,098 RMB/ton, up 0.66% from May 9.
Analysis review
Supply was tight, domestic soybean market improved
Beginning in mid-May, the terminal demand for soy products was acceptable, and the price rose slightly. The mainstream quotation in the market was 3.1 yuan/catties, and traders mainly supported high prices, and the market continued to run at a high level.
On May 23, China Grain Reserves planned to auction 10,087 tons of domestic soybeans, with a turnover of 10,087 tons, a turnover rate of 100%, and an average transaction price of 6,209 RMB/ton. The auction of the State Reserve sold well, and the spot price was supported.
Market outlook
The agricultural product analyst of SunSirs believes that: under the support of terminal demand, the supply of domestic soybeans is tight, and the soybean market in the future will remain high.
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