HEI LONG JIANG: This week, the main contract of Lianpan Bean One Futures has continued to fall since the beginning of the week. The soybean market in Heilongjiang Province has also followed suit, and prices in some areas have adjusted back again. According to market conditions in previous years, soy products will experience low demand for more than two months.
In July, universities and colleges have entered the summer vacation, group consumption has decreased, and low-priced vegetables and pork have further restrained the increase in demand for soy products. After the fall, the hot scorching heat and the rainy weather in the market in the sales area increased the difficulty of soybean storage, and the dealers’ intention to build warehouses weakened, making it difficult to support the upward price of soybeans.
With the continuous shrinking of crushing profits, the increasing losses of processing enterprises, the weakening of the rigid replenishment demand for soybeans, and the impact of the low price of imported genetically modified soybeans, the price of organic soybeans in Heilongjiang has been lowered again. At present, the acquisition of the State Reserve has become the main factor supporting the organic soybean market in Heilongjiang Province. It is expected that soybean prices may not rise sharply before the recovery of downstream demand.
Current Market Price in China for soybean
|Purity||99.5 % Min|
|Package||25kg Paper Bag|
|Loading||22Tons / 20GP|
|FOB Dalian||USD 1060/Mt|