SunSirs: Poor Purchasing and Sales, China Domestic Soybean Market is Weak
November 24 2023 14:26:14 SunSirs (Selena)
According to monitoring data from SunSirs, since November, the domestic soybean market has been weak and consolidating, with prices slightly declining. At the beginning of the month, the average market price of domestic soybeans was 5,020 RMB/ton. On the 23rd, the average market price of domestic soybeans was 4,980 RMB/ton, with a price drop of 0.8%.
Starting from November, the new season of domestically produced soybeans has been fully listed, with the market mainly focused on state-owned reserve acquisition, and the overall price has slightly decreased. The average market price of domestic soybeans is around 5,000 RMB/ton. Some traders have slightly reduced their transaction prices. Planters are mainly wait-and-see, and the market purchase and sales are relatively quiet, while domestic soybeans are operating weakly and steadily.
SunSirs agricultural product analyst believes that the demand for terminal soybean products is poor, and the domestic soybean market will still weaken in the future.
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