As the weather turns cold and the soybean market demand improves, it is expected that the domestic soybean price will still run at a high level before the new season soybean goes on the market. Internationally, the weather in the main soybean producing areas in the United States affects the trend of international soybean prices, and it is expected to remain volatile in the short term.
(1) Domestic soybean prices are flat:
Soybean grows well in most parts of Northeast China and has entered the filling stage. Local high temperature and drought in Anhui and Sichuan affected soybean growth. This month, the source of grass-roots beans in the main producing areas was further reduced, and traders sold their stocks at a stable price, waiting for new beans to be listed. This month's national and provincial soybean auctions also effectively supplemented the market supply. The market is still in the off-season of seasonal consumption, and the sales area is replenished sporadically.
In August, the average purchase price of domestic edible soybeans in Heilongjiang was flat, up 9.2% year-on-year; The price of soybeans entering the factory in Shandong was flat, up 6.9% year-on-year; The closing price of the main soybean contract (September 2022) of Dalian Commodity Exchange rose by 5.3% month-on-month and 5.7% year-on-year.
(b) International soybean price increase:
International soybean prices fluctuated this month, and the average monthly price was higher than last month. At the beginning of the month, due to the expectation of global economic recession, increasing concerns about Sino-US relations, rainfall in the Midwest of the United States, improvement of crop conditions and other factors, international soybean prices fluctuated and fell.
Later, due to the acceleration of soybean export sales in the United States, the weather forecast showed that there was high temperature and dry weather in the soybean producing areas in the United States at the end of August, and the international soybean price fluctuated and rose. In August, the average closing price of the Chicago Board of Trade (CBOT) soybean main contract (165438+20221October) increased by 4.8% month-on-month and 5.7% year-on-year.