Global soybean supply is abundant

In the first half of the year, South American soybean production was high, and in the second half of the United States, production was increased. Under the circumstances that the global supply of soybeans was relatively abundant, so far this year, Beijing soyoil, blended oil and peanut oil prices have been falling steadily.

Beijing Yuquan Road Market, a professional grain and oil wholesale market in Beijing, released monitoring data yesterday, showing that since this year, the wholesale price of soybean oil in the Beijing market has dropped by a maximum of 34 yuan per box (5L x 4 barrels, the same below). Recently, the wholesale soybean oil price continued to fall on the seasonal supply pressure of the new season soybean harvest in the United States. Compared with the previous month, the wholesale price of “Fulinmen” soybean oil per box was 162 yuan, down by 3 yuan, a decrease of 1.82%; the wholesale price of “Huifu” soybean oil per box was 144 yuan, down 2 yuan, a decrease of 1.37%.

The downturn in soybean oil prices also has a direct impact on other oil products. Monitoring data show that the “Golden Arowana” edible oil blended oil in the Beijing market is 235 yuan per box, down 3 yuan from the previous month and 15 yuan from the beginning of the year; "Fortune" corn oil was 228 per box, which was the same as last month, down 20 yuan from the beginning of the year; "Xiangtai" rapeseed oil (23 kg) was 283 yuan per barrel, down 2 yuan from the previous month, down 12% from the beginning of the year. yuan.

In addition, since the peanut oil market experienced last year's turmoil, all the way up, this year, a lot of enthusiasm. In the environment where the price of raw peanuts fell sharply and the soybean oil price was low, the price of peanut oil this year showed a clear correction. At present, the peanut oil market accounts for a relatively large wholesale price of "Luhua" brand peanut oil at 500 yuan per box, which is flat from the previous month; it has fallen by 56 yuan or a decrease of 10.07% from the beginning of the year. "Arowana" peanut oil was 410 yuan per box, down 20 yuan from the previous month; it was down 70 yuan from the beginning of the year, a decrease of 14.58%.

"This year's global soybean production is high and the supply is sufficient, so that the price of soybean oil meets 'Waterloo'. Since China's soybean oil supply is mainly imported, this has caused Beijing's soybean oil prices to continue to fall this year," said Liu Jingliang, head of the Yuquan Road Market Information Department. In the future, the planting area of ​​South America's main soybean producing areas is expected to continue to expand, laying a foundation for the harvest of soybeans. If the weather conditions in the later stages are conducive to the growth of soybeans, South American soybeans will still have a good harvest next year, and will continue to suppress the soybean oil market. It is expected that the Beijing soybean oil wholesale price will continue to operate weakly in the short term.