Domestic soybeans gradually listed and reduced production into "main theme"

Recently, with the advancement of soybean harvesting in Heilongjiang Province, soybeans in some regions have begun to gradually supply the market. Despite the high open prices, due to the scarcity of domestic soybeans this year, the acquisition will still be difficult, and the reduction in domestic soybean production may exceed the market's expectations.

Helen Soybean purchaser Wu Jianping said that at present, the local farmers harvested 70% of the soybeans, and about 30% of the farmers did not harvest on the ground. However, the people sold very little, and there were not many soybeans on the market. Most of them were stored by local farmers.

“Actually, the initial market price of domestic soybeans has been approaching historical high this year. At that time, due to rain, the harvest was slow, and farmers had no soybeans to sell. After 70% of the recent harvest was completed, the price of soybeans in domestic and foreign markets fell, and traders lowered their prices. At the purchase price, farmers are reluctant to sell soybeans." Regarding farmers' reasons for reluctance to sell, Wu Jianping believes that, on the one hand, despite the fact that the opening price is relatively high this year, the prices have dropped significantly recently, and farmers are unwilling to sell at this price. In mid-September, the purchase price of soybean gross grain reached 2.6 yuan/kg, but now with the price drop in the futures market, the purchase price of Maoliang has dropped to 2.4 yuan/kg. On the other hand, this year's soybean cultivation area has decreased significantly, plus the general harvest, some farmers look at the high market price and are reluctant to sell.

Galaxy Futures analyst Wang Liguo said that the soybean production in Heilongjiang this year may be only about 5 million tons, and the significant reduction in planting area is an important reason for the reduction in output. Due to the expected reduction in output, many companies and some traders in the sales area have been entrusted with the acquisition of local traders in the Heilongjiang soybean production area, but the number is very small. "Maybe after 11th holiday, some farmers will choose to sell grain. At present, it is only the initial stage of the soybean supply market. Batch listing will still need to be completed by the end of next month."

“A lot of food bean demand enterprises have come to us to buy soybeans here, but due to the scarcity of quantity, the number of companies to buy is not large.” Wu Jianping believes that the amount is estimated to wait until after the 11th holiday, but when the time depends on the market price If the prices fall again, the farmers' reluctant sellers will have more psychological estimates.

The decline in soybean prices in the domestic spot market is closely related to the fall in the prices of futures markets. In the past week, the new contract of CBOT soybeans in November fell by a remarkably high 6.74 percent, which is still falling. The DCE soybean 1301 contract was affected by the high domestic spot price, and the decline was relatively limited.

For the soybean market price trend, the above market participants all believe that the current domestic soybean demand, coupled with the supply is too low, the market price may be out of the impact of international soybean market and out of the independent market, the price is likely to rise again after the fall.