BEIJING: Due to the significant decline in the soybean area in Henan and Northern Anhui and the repeated floods in some main producing areas in Henan, many producing areas are optimistic about the future soybean market this year. The entities that raise funds, rent warehouses, and hoard the gambling market is already “eager to try.” It is expected that the purchase price of gross grains during the concentrated harvest period will increase from USD 885/ton to USD916/ton, and the net grain loading price will increase rapidly from USD 947/ton to USD 962/ton.
The price of high-quality soybeans circulating in the market in mid-October is expected to reach USD 993/ton. After that, many subjects will be more likely to turn to Shandong and Hebei Dou Districts in the evening market. The Anhui and Henan production areas have a higher probability of the expectation mentioned above, having a better auxiliary effect on the downtrend high-quality soybean areas in northern Jiangsu. In 16 cities and counties north of Jiangsu, including Nantong, Yancheng, Dongtai, Dafeng, Xinghua, Taizhou, Huai’an, and Suqian, the loading price has been declining from USD1.130/ton in the initial stage of listing. The harvest range expanded last weekend, and the pressure on buyers doubled.
Last week, the mainstream truck loading price dropped from USD1.070 to USD1.087/ton on Monday to below USD 1.056/ton on Sunday, and the expected stabilization value is between USD 1.043 and USD 1.050/ton. The reason is that the harvest period in Henan and Anhui is delayed. Once the “participating” entities start hoarding the gambling market, the “smog” will block the downward trend of Jiangsu’s high-quality beans.
Current Market Price in China for 2020 CROP soybean
|Purity||99.5 % Min|
|Package||25kg Paper Bag|
|Loading||22Tons / 20GP|
|FOB Dalian||USD 1100/Mt|
The following reports may be of interest to you: