Price trend

According to the monitoring data of SunSirs, the domestic soybean market continued to weaken after the National Day, falling to about 5,810 RMB/ton. At the beginning of this month, the market price of domestic soybeans was 6,060 RMB/ton. On October 27, the average market price of domestic soybeans was 5,810 RMB/ton, down 4.13%.

Analysis review

Soybeans in the new season were listed, and domestic soybean market declined in October

After the National Day holiday, soybeans in the new season had come into the market one after another. The water content of new soybeans is relatively high, and the market acquisition was average. Farmers were busy harvesting and had no time to sell. The market purchase and sales were cold. Some national warehouses were listing for purchase, with prices ranging from 2.85-2.92 RMB/jin. The quotation of new beans was obviously lower than that of old beans, and the domestic soybean market was weak.

Since the middle of October, new season soybeans had been listed in an all-round way. The market acquirers were cautious in entering the market, and the demand was average. The domestic soybean market continued to weaken, with the mainstream quotation of 2.8-2.9 RMB/jin. Near the end of the month, some national repositories began to purchase on the market, and the mainstream quotation continued to be about 2.9 RMB/jin, and the market was relatively stable.

Market outlook

According to the agricultural product analysts of SunSirs, the domestic soybean market has been listed in the new season, and the market supply is loose. The domestic soybean market will still be weak in November.

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