BEIJING: Heilongjiang domestic soybeans began to be harvested during the National Day holiday of the 11th National Day. Various localities have already given open-scale prices. From the perspective of price trends, there is a clear “opening high and moving high” trend. What is the reason for the continuous increase in domestic soybean prices?
First, the normal replenishment behaviour downstream. From the perspective of rigid downstream demand, protein factories, yuba factories, etc., have been replenishing their warehouses. It is understood that some companies have significantly reduced their inventories, and there has been a centralized purchase of new grains after the listing.
Second, “over-the-counter” entities intervene in the soybean market. The price of soybeans in the new season this year is relatively high. Local traders in Heilongjiang stayed away from the cost and did not dare to stock up on grain. The current purchasing behaviour is to maintain downstream customers and purchase according to actual demand. However, “off-market” entities dared to buy. Those engaged in the corn trade and miscellaneous grains business before began to switch to the soybean market after the prices of corn and various grains had been declining. The price has had a transparent boost.
Current Market Price in China for Chinese soybean
|Product Name||Chinese soybean|
|Package||25kg paper bag|
|Fob Dalian||Usd 1100/mt|
|Delivery||20 days after the contract|
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