According to the monitoring data of SunSirs, since the middle of October, the soybean market in the new season has been comprehensively listed, and the domestic soybean market is still weak, falling to about 5,790 RMB/ ton. At the beginning of this month, the market price of domestic soybeans was 5,820 RMB/ ton. On November 3, the average market price of domestic soybeans was 5,790 RMB/ ton, down 0.52%.

Since middle October, new season soybeans have come into the market in succession. The water content of new soybeans is relatively high, and the market acquisition is average. Farmers are busy harvesting and have no time to sell. The market purchase and sales are cold. Some national warehouses are listed for acquisition, with prices ranging from 2.85-2.92 RMB/half kilo. The quotation details of new beans are lower than those of old beans, and the domestic soybean market is weak.

At the end of the month, the demand for soybean products was weak, and the logistics was blocked. The market players were less motivated to purchase soybeans, and the soybean market continued to weaken. In November, the domestic soybean market was still weak, with the mainstream price of gross grain of 2.75-2.8 RMB/half kilo and the price of commodity beans of 2.85-2.9 RMB/half kilo.

SunSirs agricultural product analyst believes that, China terminal demand is weak, and the domestic soybean market will remain weak in the short term.

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