Soybean prices are running high, and domestic market supply is guaranteed

Recently, the global soybean price has risen to a high point in recent years, and China's soybean import cost has increased, driving the price of soybean oil and soybean meal higher

Market supply is guaranteed

Soybean prices have risen significantly, and farmers are more motivated to plant soybeans

Wang Liaowei, a senior economist at the National Grain and Oil Information Center, told a reporter from China Business Daily that from the perspective of demand, global soybean consumption demand is expected to decline

Wang Liaowei said that in 2021, China's total soybean output will be 16.

Soybean expansion is also underway

In addition, in terms of domestic market supply, policy soybean auctions have been increasing

Demand for soybean feed may decrease

Soybean occupies an important position in China's livestock and poultry breeding

According to data from the Ministry of Agriculture and Rural Affairs, on March 6, the average purchase price of live pigs for designated slaughtering enterprises of live pigs above designated size was 14.

"It is expected that the production capacity of pig breeding will continue to be reduced, and the reduction in feed demand will reduce the consumption of soybean meal

It is worth noting that in the international market, the US soybean planting area is expected to increase in the new season, while consumer demand declines

"The possibility of soybean price correction will increase.