Soybean prices in Heilongjiang producing areas are stable but weak, market purchases and sales are weak, and many places have prices but no market. Heilongjiang Province’s soybean auctions are expected to coexist with the State Reserve’s purchases, and the market is in a state of long and short.
The Ministry of Agriculture and Rural Affairs announced an analysis report on agricultural products’ supply and demand situation. It is expected that the area of domestic soybeans in 2021 will drop by 5.4% year-on-year, and the output will drop by 5.1% year-on-year to 18.65 million tons.
Since July, the State Reserve has successively opened some directly affiliated warehouses to purchase in the market. Still, the surplus grains in the production areas are limited, and the listed prices are often available on the market. The supportive role of purchasing and storage on the soybean market has weakened.
Current Market Price in China for Chinese soybean:
|Package||25kg paper bag|
|Fob Dalian||Usd 1000/mt|
|Delivery||20 days after the contract|
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