HEILONGJIANG: Soybean prices in Heilongjiang producing areas remained stable last week, and market purchases and sales were light. The 88,440 tons of soybeans auctioned under the Heilongjiang Provincial Reserve Plan ended after repeated releases. Putting provincial soybeans on the market is one of the measures taken by the state to ensure the supply and price stability of bulk commodities, which will help adjust market expectations and curb overheating of the market. Heilongjiang’s epidemic prevention and control measures have been upgraded, and there have been difficulties in renting cars and rising freight rates in many places.
The listing and acquisition of China Grain is still the main channel for soybean sales in the production areas. Still, the surplus grains in the production areas have bottomed out, and many places continue to be priceless. The number of southern new beans on the market increased. The rainfall distribution in Heilongjiang production areas in July was uneven, showing a phenomenon of floods in the West and droughts in the east. The temperature in many places was significantly lower this week. The soybean supply and demand balance sheet released by the Ministry of Agriculture and Rural Affairs is consistent with last month. China’s soybean production in 2021 is expected to be 18.65 million tons. The domestic soybean market remained independent, and the new round of selling pressure fell sharply, and it is expected to find support further down.
Current Market Price in China for Chinese soybean
|Product Name||Chinese soybean|
|Package||25kg paper bag|
|Fob Dalian||Usd 1000/mt|
|Delivery||20 days after the contract|
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