China Soybean Price to Keep Weak in Short Terms

By CnAgri2013-12-23 09:43:18 Print

Soybeans: domestic soybean price kept stable this week and declined in some areas. Soybean purchase by State Treasury has begun gradually, but soybean transaction is still sluggish. Some farmers keep straddling and purchase from oil plants is also limited. Therefore BOABC predicts domestic soybean price shall remain stable with weakness in recent. As for imported soybean, the price remained stable with slight decline. According to detecting data, domestic soybean consumption for crushing oil increased YOY and soybean stocks in ports also declined. But the imports are estimated to be 6.6 million MT in December, which no doubt will suppress domestic soybean price. So BOABC predicts imported soybean price shall keep weak in short terms. (Figure 10)



From “China Oil and Oilseeds Market Weekly Report”