HUBEI: In late July, Hubei soybeans took the lead in the listing, attracting traders’ attention. According to local traders, heavy rain during the growing period of Hubei beans, coupled with high planting density and deviation of ventilation and light conditions, adversely affect the yield. From the price point of view, the current purchase price of organic soybean net grain is 1.122 US dollars/ton, and the outgoing loading price is 1.100-1.140 US dollars/ton, the protein content is 48%, and the moisture content is about 13%.
Traders believe that in early August, the number of soybeans on the market in Hubei has increased, and centralized sales by farmers may put a certain pressure on soybean prices. If Hubei soybeans experience a seasonal decline, it will usually affect the market in surrounding producing areas. Soybeans in Anhui and Henan are generally harvested one after another in mid-to-late September. Undertaking Hubei soybeans to be listed on the market will often be affected by the market in Hubei soybeans.
However, there have been continuous disasters in the production areas within the Guan in recent years, which have formed a double test of yield and quality. Especially in late July of this year, Henan suffered from a historically rare storm and flood disaster, which caused some plots to reduce or even cease production. The quality of soybeans during the harvest period may also be affected.
According to the Ministry of Agriculture and Rural Affairs dispatch, as of July 29, 14.5 million mu of crops were affected in Henan Province, 9.4 million mu were damaged, and 5.5 million mu had no harvest. The affected areas were mainly Xinxiang, Zhoukou, Kaifeng, Anyang, Jiaozuo, Hebi, Zhengzhou, etc. Locally, the affected crops are mainly autumn crops corn, peanuts, and soybeans.
Current Market Price in China for 2020 CROP soybean
| Product | Organic Soybean |
| Type | NON-GMO |
| Colour | Yellow |
| Purity | 99.5 % Min |
| NON | GMO |
| Package | 25kg Paper Bag |
| Loading | 22Tons / 20GP |
| FOB Dalian | USD 1060/Mt |