SunSirs: Terminal Demand Was Poor, and Domestic Soybean Market Was Weak
April 12 2023 13:30:05 SunSirs (John)
Price trend
According to monitoring data from SunSirs, since April, the domestic soybean market has mainly experienced a fluctuating decline, with a drop of over 1%. At the beginning of the month, the average market price of domestic soybeans was 5,550 RMB/ton. On April 10th, the average market price of domestic soybeans was 5,460 RMB/ton, with a price drop of 1.62%.
The demand for soybean products was flat, and the domestic soybean market continued to weaken
In April, the role of national reserve prices in supporting the market was limited, and the demand for terminal soybean products was poor. The procurement volume was relatively small, and the domestic soybean market was still mainly weak and declining. The mainstream quotation in the main production area market was 2.7-2.75 RMB/jin, with a slight decline in the market, transaction volume was limited, and sales were average. Although the purchase price of the national reserve was 2.75 to 2.775 RMB/jin, due to the relatively low market supply of grain, the purchase price of villages was still weaker.
Market outlook
Agricultural product analysts from SunSirs believe that the demand for terminal soybean products is flat, and the domestic soybean market will continue to be dominated by weak performance in the future.
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