SunSirs: Poor Demand, China Domestic Soybean Market was Weak and Declining
September 21 2023 14:25:49 SunSirs (Selena)
According to monitoring data from SunSirs, since September 11th, the domestic soybean market has declined weakly, with a decline of nearly 1%. On September 11th, the average market price of domestic soybeans was 5,150 RMB/ton. On September 20th, the average market price of domestic soybeans was 5,100 RMB/ton, a decrease of 0.97%.
Starting from mid September, the new season of soybeans entered the harvest season, with market trading entities mainly watching and watching, with cold purchases and sales, continuous auctions of state-owned soybean reserves, loose market supply, and a weak decline in the domestic soybean market. The mainstream quotation fell to 2.55 RMB/500g, with a price drop of 0.1 RMB/500g.
SunSirs agricultural product analyst believes that with the upcoming Double Festival and the launch of domestic soybeans in the new season, the domestic soybean market may continue to weaken in the future.
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