SOYBEANS: China’s organic soybean prices run smoothly

BEIJING: It is expected that domestic organic soybean prices will remain firm in the short term, and international soybean prices will continue to fluctuate. As the Northeast New Beans are coming to market in large numbers, the market supply is still tight before the listing of New Beans.

Soy product consumption is expected to pick up in September gradually. Coupled with holiday factors, organic soybean prices are expected to be boosted. However, the uncertainty of the new crown pneumonia epidemic (Covid19) has advanced the time for soybean replenishment in sales areas and has also overdrawn part of the later demand. It is expected that the possibility of a sharp increase in prices is slight, and the mainstay is stable.

In the international market: With the end of the critical growth period of U.S. soybeans, the impact of weather factors on production continues to weaken, and the probability of large-scale capital speculation has declined. With the U.S. soybean harvest launch in September, the global supply of soybeans has increased, and international soybean prices are facing downward pressure. However, there are still uncertainties in the weather during the harvest and the rhythm of U.S. soybean sales. It is expected that international soybean prices will continue to fluctuate.

Current Market Price in China for 2020 CROP soybean